The leading barbecue restaurant chain owned by BBQ Holdings,
continues its drive to boost labor productivity and guest
experience at all locations across the U.S with Presto
Presto, a leader in the restaurant hospitality technology
industry, has been selected by Famous Dave's, owned by BBQ Holdings
(NASDAQ: BBQ), as the exclusive provider of its next generation
pay-at-table solutions. Designed to provide a faster and more
delightful guest experience, boost guest loyalty sign-ups and
improve labor productivity, the Presto pay-at-table systems will
roll-out to the corporate Famous Dave's restaurants in the United
States over the next few months.
This partnership will enable Famous Dave's to provide a
convenient pay-at-table experience to their guests to increase
guest satisfaction, improve productivity and ultimately drive
repeat visits. The Presto pay-at-table system is easy to use,
reliable, and enhances the guest experience by providing
convenience, specifically around pay-at-table functionality. It has
a low profile and space-saving industrial design, which does not
intrude upon the dining experience.
Famous Dave’s was also able to identify and measure a variety of
tangible benefits generated by Presto including improvements in
staff efficiency, table turns, revenue sharing, and helpful guest
feedback via Presto’s survey feature.
“Our guests and operators expect a best-in-class digital
experience focused on making their lives easier and improving their
overall experience,” said Al Hank, Famous Dave's COO. “Presto’s
technology is an important component of our strategy to provide a
convenient and personalized guest experience, while at the same
time reducing complexity for our team members.”
“We are thrilled to be selected by Famous Dave's as its
exclusive pay-at-table technology partner,” said Dan Mosher, Chief
Revenue Officer of Presto. “Famous Dave’s continues to be a leader
in innovation in the restaurant industry and the brand holds its
technology partners to high standards. Its selection of Presto
validates the strong value our platform offers to digital first
restaurants.”
Presto’s payment experience supports all the latest EMV and
mobile payment technologies, including Apple Pay, Android Pay,
Samsung Pay, Chip-and-PIN, Chip-and-Signature and PIN-Debit. Famous
Dave's will also benefit from the industry’s highest standard of
payment security that includes full P2PE hardware encryption and
PTS certified PIN capture, with the majority of credit cards not
leaving the guest’s control.
On November 10, 2021, Presto announced the execution of a
definitive merger agreement with Ventoux CCM Acquisition Corp.
(NASDAQ: VTAQ), a publicly-traded special purpose acquisition
company (“Ventoux”), that will result in Presto becoming a publicly
listed company. Upon closing, the combined company (the “Company”)
will be renamed Presto Technologies, Inc. and expects to trade on
Nasdaq.
To schedule a live demo or learn more about Presto’s products,
please contact mktg@presto.com or visit presto.com.
About Presto
Presto overlays next-gen digital solutions onto the physical
world. Our enterprise-grade touch, vision, and voice technologies
help restaurant hospitality businesses thrive while delighting
guests. With over 250,000 systems shipped, we are a market leader
in enterprise-grade labor productivity solutions for restaurants.
Founded at M.I.T. in 2008, Presto is headquartered in Silicon
Valley, Calif. with customers including many of the top 20
restaurant chains such as Applebee’s, BJ’s, Checkers, Chili’s,
Famous Dave’s, Outback Steakhouse, and Red Lobster.
About Famous Dave’s / BBQ Holdings
BBQ Holdings, Inc. (NASDAQ: BBQ) is a national restaurant
company engaged in franchising, ownership and operation of casual
and fast dining restaurants. As of November 10, 2021, BBQ Holdings
had seven brands with 303 locations in three countries including 89
Company owned locations and 214 franchised locations. In addition
to these locations, the Company opened eight Company-owned Famous
Dave’s ghost kitchens operating within its Granite City locations,
and 20 Famous Dave’s franchisee ghost kitchens operating out of the
kitchen of another restaurant location or a shared kitchen space.
While BBQ Holdings continues to diversify its ownership in the
restaurant community, it was founded with the principle of
combining the “art and science” of barbecue to serve up the very
best of the best to barbecue lovers everywhere. Along with a wide
variety of BBQ favorites served at their BBQ restaurants, BBQ
Holdings also operates Granite City Food and Brewery restaurants
which offer award winning craft beer and a made-from-scratch, chef
driven menu featuring contemporary American cuisine. Village Inn
and Bakers Square add a legendary Family Dining element to BBQ
Holdings, with these concepts specializing in breakfast and pies.
Tahoe Joe’s, the Company’s newest addition, is known for their
pellet-broiler cooked and smoked infused steak. The Company
recently announced its intention to acquire Barrio Queen, a Mexican
fine dining brand.
Additional Information and Where to Find It
In connection with the proposed business combination involving
Ventoux and Presto, Ventoux has filed a registration statement,
which includes a preliminary proxy statement/prospectus, with the
SEC. The proxy statement/prospectus will be sent to stockholders of
Ventoux. This press release is not a substitute for the proxy
statement/prospectus. INVESTORS AND SECURITY HOLDERS AND OTHER
INTERESTED PARTIES ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS
AND ANY OTHER RELEVANT DOCUMENTS THAT HAVE BEEN FILED OR WILL BE
FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO
THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT
PRESTO, VENTOUX, THE PROPOSED BUSINESS COMBINATION AND RELATED
MATTERS. The documents filed or that will be filed with the SEC
relating to the proposed business combination (when they are
available) can be obtained free of charge from the SEC’s website at
www.sec.gov. These documents (when they are available) can also be
obtained free of charge from Ventoux upon written request at
Ventoux CCM Acquisition Corp., 1 East Putnam Avenue, Floor 4,
Greenwich, CT 06830.
No Offer or Solicitation
This communication is for informational purposes only and is not
intended to and shall not constitute a proxy statement or the
solicitation of a proxy, consent or authorization with respect to
any securities in respect of the proposed business combination and
shall not constitute an offer to sell or the solicitation of an
offer to buy or subscribe for any securities or a solicitation of
any vote of approval, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
Participants in Solicitation
This communication is not a solicitation of a proxy from any
investor or security holder. However, Ventoux, Presto, and certain
of their directors and executive officers may be deemed to be
participants in the solicitation of proxies in connection with the
proposed business combination under the rules of the SEC.
Information about Ventoux’s directors and executive officers and
their ownership of Ventoux’s securities is set forth in filings
with the SEC, including Ventoux’s annual report on Form 10-K filed
with the SEC on February 23, 2022. To the extent that holdings of
Ventoux’s securities have changed since the amounts included in
Ventoux’s most recent annual report, such changes have been or will
be reflected on Statements of Change in Ownership on Form 4 filed
with the SEC. Additional information regarding the participants
will also be included in the proxy statement/prospectus, when it
becomes available. When available, these documents can be obtained
free of charge from the sources indicated above.
Forward-Looking Statements
This communication contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about future financial and operating results, plans, objectives,
expectations and intentions with respect to future operations,
products and services and expectations regarding the proposed
business combination between Presto and Ventoux; and other
statements identified by words such as “will likely result,” “are
expected to,” “will continue,” “is anticipated,” “estimated,”
“believe,” “intend,” “plan,” “projection,” “outlook” or words of
similar meaning. Such forward-looking statements are based upon the
current beliefs and expectations of our management and are
inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are
difficult to predict and generally beyond our control. Actual
results and the timing of events may differ materially from the
results anticipated in these forward-looking statements.
In addition to factors previously disclosed or that will be
disclosed in Ventoux’s reports filed with the SEC and those
identified elsewhere in this communication, the following factors,
among others, could cause actual results and the timing of events
to differ materially from the anticipated results or other
expectations expressed in the forward-looking statements: (1) the
occurrence of any event, change or other circumstances that could
give rise to the termination of the merger agreement or could
otherwise cause the transactions contemplated therein to fail to
close; (2) the outcome of any legal proceedings that may be
instituted against Ventoux, Presto, the Company or others following
the announcement of the proposed business combination and any
definitive agreements with respect thereto; (3) the inability to
complete the proposed business combination due to the failure to
obtain approval of the stockholders of Ventoux or Presto; (4) the
inability of Presto to satisfy other conditions to closing; (5)
changes to the proposed structure of the proposed business
combination that may be required or appropriate as a result of
applicable laws or regulations or as a condition to obtaining
regulatory approval of the proposed business combination; (6) the
ability to meet stock exchange listing standards in connection with
and following the consummation of the proposed business
combination; (7) the risk that the proposed business combination
disrupts current plans and operations of Presto as a result of the
announcement and consummation of the proposed business combination;
(8) the ability to recognize the anticipated benefits of the
proposed business combination, which may be affected by, among
other things, competition, the ability of the Company to grow and
manage growth profitably, grow its customer base, maintain
relationships with customers and suppliers and retain its
management and key employees; (9) the impact of the COVID-19
pandemic on the business of Presto and the Company (including the
effects of the ongoing global supply chain shortage); (10) Presto’s
limited operating history and history of net losses; (11) Presto’s
customer concentration and reliance on a limited number of key
technology providers and payment processors facilitating payments
to and by Presto’s customers; (12) costs related to the proposed
business combination; (13) changes in applicable laws or
regulations; (14) the possibility that Presto or the Company may be
adversely affected by other economic, business, regulatory, and/or
competitive factors; (15) Presto’s estimates of expenses and
profitability; (16) the evolution of the markets in which Presto
competes; (17) the ability of Presto to implement its strategic
initiatives and continue to innovate its existing products; (18)
the ability of Presto to adhere to legal requirements with respect
to the protection of personal data and privacy laws; (19)
cybersecurity risks, data loss and other breaches of Presto’s
network security and the disclosure of personal information; and
(20) the risk of regulatory lawsuits or proceedings relating to
Presto’s products or services.
Actual results, performance or achievements may differ
materially, and potentially adversely, from any projections and
forward-looking statements and the assumptions on which those
forward-looking statements are based. There can be no assurance
that the data contained herein is reflective of future performance
to any degree. You are cautioned not to place undue reliance on
forward-looking statements as a predictor of future performance as
projected financial information and other information are based on
estimates and assumptions that are inherently subject to various
significant risks, uncertainties and other factors, many of which
are beyond our control. All information set forth herein speaks
only as of the date hereof in the case of information about Ventoux
and Presto or the date of such information in the case of
information from persons other than Ventoux and Presto, and we
disclaim any intention or obligation to update any forward-looking
statements as a result of developments occurring after the date of
this communication. Forecasts and estimates regarding Presto’s
industry and end markets are based on sources we believe to be
reliable, however there can be no assurance these forecasts and
estimates will prove accurate in whole or in part. Annualized, pro
forma, projected and estimated numbers are used for illustrative
purposes only, are not forecasts and may not reflect actual
results.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220420005031/en/
Rajul Misra VP of Marketing, Presto +1 (408) 659-6825
media@presto.com
Ryan Gardella & Michael Bowen Investor Relations
investor@presto.com
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