Seaway Valley Engages Fransaction to Explore Brick-Oven Pizza Franchise Model
Seaway Valley Capital Corporation (OTCBulletinBoard:SWVC ) today announced that through its newest subsidiary, North Country Hospitality, Inc., it has engaged franchise development company, Fransaction, Inc., to explore the development of its "Goodfello´s Brick-Oven Pizza and Wine Bar" into a multi unit franchise concept. Florida-based Fransaction, Inc. specializes in assisting the development of successful individual restaurants into multi-unit systems that can be duplicated or licensed into franchised chains. Fransaction works with clients in every facet of their restaurant business, including menu engineering, prototype development, customer demographics, and staff development.
Goodfello´s, based in Sackets Harbor, New York, is an award winning restaurant that specializes in gourmet pizzas and specialty pasta dishes and offers an extensive list of fine wines. Christopher M. Swartz, President of North Country, stated, "We have always believed that Goodfello´s could be a strong franchised concept. Goodfello´s unit economics are excellent, and it has a very popular but focused menu that lends itself to rapid development in multiple markets." Mr. Swartz added, "We have initially targeted seven specific markets where we are looking to add locations where we believe Goodfello´s would have the highest probability of success, and the assistance of Fransaction will allow us to develop a more complete franchise concept rapidly and professionally. We look forward to working with Fransaction and being more prepared to deploy new locations in the near future."
About North Country Hospitality, Inc.
North Country (www.northcountryhospitality.com) was formed to develop or acquire and operate regional lodging, restaurant, and recreational venues. North Country also seeks to acquire or develop strategic consumer products that complement its core hospitality businesses and that can be positioned for growth outside the region. The company´s current holdings include: (i) Sackets Harbor Brewing Company, which develops, produces, and markets micro brewed beers such as the award winning "1812 Amber Ale" and "Railroad Red Ale" as well as "Thousand Island Pale Ale", "1812 Amber Ale Light" and "Independence Wheat" specialty beers; (ii) Sackets Harbor Brew Pub, which is an operating "Brew Pub" that produces its own line specialty beers on site while also offering fine dining; (iii) Goodfello´s Brick Oven Pizza and Wine Bar, which specializes in excellent-yet-affordable Italian food; (iv) Sackets Cantina Sackets, which offers a traditional Mexican menu; (v) five Jreck Subs Franchises (www.jrecksubs.com), which serves a variety of hot and cold sandwich choices, and homemade style soups; and (vi) Alteri´s Bakery (www.alteribakery.com), which serves the region with the finest "true" Italian breads and specialty pastry items, such as cakes, cookies, muffins, bagels, and specialty gift baskets.
About Seaway Valley Capital Corporation
Seaway Valley Capital Corporation makes equity, equity-related, and debt investments in companies that require expansion capital. Seaway also seeks investments in leveraged buyouts and restructurings. Seaway will consider investment opportunities in a number of different industries, including retail, restaurants, media, business services, manufacturing, and select technologies.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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