Muscle Maker, Inc. Expands Executive
Team with New CFO Supporting Chain's Franchise Growth
Strategy
Current CFO
Appointed as Chief Accounting
Officer
LEAGUE CITY, TX -- January 6, 2022 -- InvestorsHub NewsWire
-- Muscle Maker, Inc. (Nasdaq: GRIL)
the parent Company of Pokemoto, Superfit Foods and Muscle Maker
Grill restaurants, today announced the addition of Jennifer Black
as the Company's Chief Financial Officer. Ms. Black is
replacing Ferdinand Groenewald, who is remaining with the Company
and has been appointed as Chief Accounting Officer.
The addition of Ms. Black and the expansion of the executive
team is designed to support the planned growth strategy of the
Company. In this upcoming year, Muscle Maker is
focusing its growth strategy on franchising. The Company has
signed development and franchise agreements for 65 new franchise
locations since November 1, 2021 while also adding multiple
corporately owned and operated locations.
Muscle Maker Grill restaurants announced a 40-unit agreement in
November 2021 for the Kingdom of Saudi Arabia. The Company's
newest acquisition, Pokemoto, has also announced 25 new franchise
agreements signed during that same period of time.
"While we are very excited about adding 40 Muscle Maker Grill
locations in Saudi Arabia, we are focusing our domestic expansion
on the Pokemoto brand. When we acquired Pokemoto in May 2021,
we had 13 open Pokemoto locations. In a few short months, we
opened six new locations bringing our total to 19 Pokemoto
locations. We have now added 25 newly signed franchise
locations. When these locations are opened, this will bring
our Pokemoto store count to 44 or roughly a 238% growth rate in a
short period of time" said Mike Roper, CEO of Muscle Maker.
"Our team is working tirelessly to keep the momentum going into
2022 with new deals and prospective franchisee outreach along with
launching marketing campaigns to fill the franchisee prospect
pipeline. The Company will also be expanding through
strategically placed corporate owned locations. As a matter
of fact, we have signed leases and started construction on two new
corporate owned and operated locations in the Miami, Florida market
and have begun planning for a location in the Jacksonville, Florida
market as well."
Roper continued, "The additional resources are critical in
supporting our growth strategy. We plan on growing our companies
through extensive franchising efforts, especially the Pokemoto
brand. The executive team has experience selling and opening
thousands of franchise locations across multiple brands in an
expedited manner. This experience provides an understanding
of how to build the required infrastructure and resources to
support our growth strategy. Adding Ms. Black as Chief
Financial Officer and appointing Mr. Groenewald to Chief Accounting
Officer is part of the infrastructure and resources needed as we
ramp up our franchising efforts in 2022."
Pokemoto currently has locations in Connecticut, Rhode Island,
Maryland, Virginia, Massachusetts and Georgia with locations coming
soon in New York, Mississippi and Florida.
For more information on Pokemoto franchising visit www.pokemoto.com/franchise
About Pokemoto
Pokemoto has nineteen open locations in six states -
Connecticut, Rhode Island, Virginia, Massachusetts, Maryland and
Georgia with future franchise locations coming soon in New York,
Massachusetts, Connecticut and Mississippi. Pokemoto offers
up chef-driven contemporary flavors with fresh delectable and
healthy ingredients such as Atlantic salmon, Ahi tuna, fresh mango,
roasted cashews and black caviar tobiko that appeals to foodies,
health enthusiasts, and sushi-lovers everywhere. Guests can choose
from a list of signature bowls or be bold and build their own
unique combination of a base, protein and various toppings and nine
different sauces. Vegetarian options are available, and the bowl
combinations are virtually limitless. The colorful dishes and
modern chic dining rooms provide an uplifting dining experience for
guests of all ages. Customers can dine in-store or order online via
third party delivery apps for contactless delivery.
About Muscle Maker, Inc.
Muscle Maker, Inc. is the parent Company of "healthier for you"
brands delivering high-quality healthy food options to consumers
through traditional and non-traditional locations such as military
bases, universities, ghost kitchens, delivery and direct to
consumer ready-made meal prep options. Brands include Muscle Maker
Grill, Pokemoto, Superfit Foods, Healthy Joe's and multiple ghost
kitchen brands such as Meal Plan AF, Wrap it up Wraps, Bowls Deep,
Burger Joe's, MMG Smoothies, Mr. Tea's House of Boba, Gourmet
Sandwich Co and Salad Vibes. Our menus highlight healthier
versions of traditional and non-traditional dishes and feature
grass fed steak, lean turkey, chicken breast, Ahi tuna, salmon,
shrimp, tofu and plant-based options.
For more information on Muscle Maker, Inc, visit www.musclemakergrill.com,
for more information on Pokemoto visit www.pokemoto.com or for more
information on Superfit Foods visit www.superfitfoods.com.
Forward-Looking Statements
This press release may include "forward-looking statements"
pursuant to the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. To the extent that the
information presented in this press release discusses financial
projections, information, or expectations about our business plans,
results of operations, products or markets, or otherwise makes
statements about future events, such statements are
forward-looking. Such forward-looking statements can be identified
by the use of words such as "should", "may," "intends,"
"anticipates," "believes," "estimates," "projects," "forecasts,"
"expects," "plans," and "proposes." Although we believe that the
expectations reflected in these forward-looking statements are
based on reasonable assumptions, there are a number of risks and
uncertainties that could cause actual results to differ materially
from such forward-looking statements. You are urged to carefully
review and consider any cautionary statements and other
disclosures, including the statements made under the heading "Risk
Factors" and elsewhere in documents that we file from time to time
with the SEC. Forward-looking statements speak only as of the date
of the document in which they are contained, and Muscle Maker, Inc
does not undertake any duty to update any forward-looking
statements except as may be required by law.
Contact:
Muscle Maker Grill Marketing:
marketing@musclemakergrill.com
Investor Relations:
IR@musclemakergrill.com
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