GFYF
BUFFALO GROVE, Ill., April 2 /PRNewswire-FirstCall/ -- GFY Foods, Inc. (BULLETIN BOARD: GFYF) announced today that it has finalized the previously announced acquisition of the Kahala franchisee located in Elkhart, IN. This, franchise location, the Elkhart Indiana Frullati Cafe and Bakery is owned by Dynasty CB Holdings, Inc. and will become a wholly owned subsidiary of GFY Foods, Inc. and will maintain its primary location in Elkhart, IN.
"It took us a little longer than we anticipated to complete the required paperwork, contracts, licenses and related materials. But, now, we are pleased that we have our first acquisition and are on our way building a powerhouse national network of Frullati Cafe's, said Ed Schwalb, President of GFY Foods, Inc. "We enjoyed a terrific business relationship with Dynasty CB Holdings, Inc., which holds other properties that the company is considering."
"Also, we are starting to recruit and train our executive management team and put the operational and financial systems in place. The company believes that this is very important, as it will allow us to grow faster and minimize possible missteps that can occur with rapid growth for a small company."
The company is currently operational in the Buffalo Grove, Illinois area, but plans to become national by rolling out additional locations in key market segments and working closely with the Kahala Corporation to locate new locations for its restaurants. By the end of calendar 2004, GFY Foods intends to open 8-10 new locations, in metropolitan areas where there is minimal competition and significant upside to build a brand and establish the company nationally.
About GFY Foods, Inc.
Founded in the spring of 2003 by Ed Schwalb, GFY Foods is operating its first restaurant location in Buffalo Grove, Illinois. The company believes in the importance of providing high quality foods at affordable prices that are healthy alternatives to food that is now being sold to the American public. For more information please contact Ed Schwalb, President, 847.353.7554, 601 Deerfield Parkway, Buffalo Grove, IL 60089.
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.
CONTACT: Ed Schwalb, President of GFY Foods, Inc., +1-847-353-7554
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