IRVINE, Calif.--(BUSINESS WIRE)--American Restaurant Holdings, Inc. (OTC: ARHI) (the “Company”) is pleased to announce that it has completed its asset purchase of Fronteras Mexican Grill & Cantina (www.fronterasgrill.com). The acquisition was completed via ARHI’s wholly owned subsidiary, Fronteras Acquisition, Inc.
Located in the Alhambra suburb of Los Angeles, Fronteras was founded in 2006 and has an extensive operating history.
Several highlights of the transaction include:
- High Visibility Location – located on Main Street in the heart of the city which is a high vehicle / high foot traffic destination serving an attractive demographic
- Barrier to Entry / Limited Competition – there are very few Mexican concepts in the immediate area and barriers to entry exist for competing concepts to open nearby
- Attractive Fixed Costs – fixed costs for the location are below-industry average
- Additional Growth Potential – management feels that there is significant growth potential in furthering the Fronteras brand and visibility in the Southern California market
“We are excited about the acquisition of Fronteras Mexican Grill and Cantina. During the course of business we review many potential transactions and this location met our criteria on various levels. We look forward to working closely with Fronteras management and its employees to continue to grow the brand”, stated Tim M. Betts, the Chief Executive Officer of American Restaurant Holdings, Inc.
About American Restaurant Holdings, Inc.
American Restaurant Holdings, Inc. (ARHI) is seeking to acquire stable cash flowing assets in the food service industry. Our primary focus is on the acquisition of multi-unit fast casual and casual dining locations whereby we can grow the number of locations and brand. In addition, we also acquire stand-alone destination locations that serve both food and alcohol.
Additional information may be found on the Company’s website at: www.americanrestaurantholdings.com.
Safe Harbor Statement
Except for historical information contained herein, the statements in this news release are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company’s actual results, performance and achievement in the future to differ materially from forecasted results, performance and achievement. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectation.