FRIENDLY'S ANNOUNCES NEW DEVELOPMENT AGREEMENT THAT WILL FURTHER EXPAND LARGEST FRANCHISE OPERATION
|Maura C. Tobias
413-543-2400 ext. 2814
Kessler Buffalo, LLC
New Agreement Will Bring New Restaurants and Economic Benefits to Buffalo Area
WILBRAHAM, MASSACHUSETTS - April 18, 2005 - - Friendly's Restaurants Franchise, Inc., a subsidiary of Friendly Ice Cream Corporation (Friendly's) of Wilbraham, Massachusetts, today announced an agreement that will further expand the largest franchisee in the Friendly's system. Under the development agreement with brothers Laurence and Dennis Kessler, Kessler Buffalo, LLC will develop three new Friendly's Restaurants in the Buffalo area by September 2007. The first will open by February of 2006.
The Kesslers have been Friendly's franchisees since January 2000 and Kessler Family, LLC currently operates 41 Friendly's Restaurants in upstate New York, concentrated in the Rochester-Syracuse area.
The announcement is part of a continued franchise expansion strategy by Friendly's, which has announced similar development agreements for 35 restaurants over the last 12 months. Each restaurant means jobs, tax revenues, and other economic benefits for the local community.
"Friendly's has been a big winner for our family, our employees, and the thousands of people that we serve. This is a brand that enjoys tremendous customer loyalty, and we are very pleased to be expanding our partnership with Friendly's by opening three new Friendly's Restaurants in greater Buffalo," said Managing Owner, Laurence Kessler.
"In addition to Friendly's delicious food and signature ice cream, we're looking forward to bringing over 100 jobs and over a half million dollars annually in tax revenues to the community," noted Dennis Kessler.
Friendly's Chief Executive Officer and President John L. Cutter said, "Franchises are central to our business strategy, and Larry and Dennis are the ideal franchise partners. They have always been very committed to making sure their guests are 100% satisfied, 100% of the time, and that is the kind of quality and commitment that all of us at Friendly's strive for each day. We are excited by this opportunity to extend and strengthen our current partnership with the Kesslers through this new Development Agreement."
"We looked at many options before opening our first Friendly's Restaurant five years ago, and Friendly's offered the best opportunity by far, including its famous ice cream and great brand awareness, comprehensive marketing, and strong operating and management systems to support franchisees," added Laurence Kessler. "We're proud to be Friendly's leading franchise owners and look forward to continued growth in the future."
Friendly Ice Cream Corporation (Amex: FRN) is a vertically integrated restaurant company serving signature sandwiches, entrees and ice cream desserts in a friendly, family environment in more than 535 company and franchised restaurants throughout the Northeast. The company also manufactures ice cream, which is distributed through more than 4,500 supermarkets and other retail locations. With a 69-year operating history, Friendly's enjoys strong brand recognition and is currently revitalizing its restaurants and introducing new products to grow its customer base.
Additional information on Friendly Ice Cream Corporation can be found on the Company's website www.friendlys.com. Information on Friendly's franchise program is available from Jim Sullivan, Director, Franchise Business, (800) 576-8088 ext. 2597, e-mail, firstname.lastname@example.org.