IRVINE, Calif.--(BUSINESS WIRE)--American Restaurant Holdings, Inc. (OTC: ARHI) (the “Company”), is pleased to announce that it has completed its asset purchase of Canyon Fireside Grille (www.canyonfiresidegrille.com). The acquisition was completed via ARHI’s wholly owned subsidiary, Canyon Acquisition, Inc.
Located in the South Orange County city of Rancho Santa Margarita, California, Canyon Fireside Grille was originally founded in 2004. The menu consists of signature dishes of American Cuisine along with a full bar.
Several highlights of the transaction include:
- High Visibility Location – located in a highly-visible “end-cap” location in the heart of South Orange County
- Strong per capita income and area demographic along with above-average vehicle and foot traffic
- Extensive Operating History – Canyon Fireside Grille has been in operation for nearly 10 years and has built a strong local and loyal clientele
- Additional Growth Potential – ARHI has identified significant growth opportunities for the location including enhanced menu items in addition to other revenue-enhancement strategies
“We are excited about the acquisition of Canyon Fireside Grille. Our plan is to grow the strong legacy business that has been created during the nearly decades-long history of the location. We look forward to working closely with Canyon’s 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 twofold - the acquisition of multi-unit fast casual locations that we can act as franchisor to grow the brand under our Franchise Development Division. Secondly, we 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.