ATLANTA, Oct. 10, 2002 (PRIMEZONE) -- Cinnabon(R), Inc., a subsidiary of AFC Enterprises, Inc. (Nasdaq:AFCE), announced it has opened three Cinnabon bakeries on university campuses during this fall semester. Cinnabon recently opened bakeries at Virginia Tech University, University of South Carolina and Temple University. The university bakeries will offer an expanded menu including enhanced coffee selections and an extended array of specialty-baked goods.
"We have expanded our brand beyond malls and airports to include military bases, hospitals, casinos and theme parks," said D'Wayne Tanner, vice president of new business development. "Opening on university campuses has always been a primary goal for our brand because of the enormous growth opportunities and our ability to create passion around what we believe are under-utilized dayparts (breakfast and snack) on college campuses."
Tanner said these openings would serve as a model for other universities interested in a Cinnabon bakery on campus. "We are looking for universities and operators who would like to become franchisees, whether the campus is operated through contract feeder organizations such as Sodexho, Inc. at University of South Carolina and Temple, or self-operated like Virginia Tech," said Tanner.
Cinnabon is the worldwide leader in the cinnamon roll bakery category. As of July 14, 2002, the company operated and franchised 577 bakeries worldwide. The bakeries are located in 43 states, Puerto Rico and 17 other countries. Founded in Seattle, Wash., in 1985, Cinnabon bakeries are traditionally located in high-traffic venues such as shopping malls, airports, train stations and travel plazas. The bakeries typically are located in 500- to 1,500-square-foot areas. Cinnabon bakeries have built a reputation for serving fresh, aromatic, oven-hot cinnamon rolls made with premium Indonesian cinnamon and topped with sweet, rich, cream cheese-based frosting. Cinnabon had system-wide sales of approximately $205.5 million in 2001 and can be found on the World Wide Web at www.cinnabon.com.
AFC Enterprises, Inc. is the franchisor and operator of 3,911 restaurants, bakeries and cafes in the United States, Puerto Rico and 28 foreign countries under the brand names Church's Chicken(TM), Popeyes(R) Chicken & Biscuits, Cinnabon(R), Seattle's Best Coffee(R) and Torrefazione Italia(R) Coffee. AFC's primary objective is to be the world's Franchisor of Choice(R) by offering investment opportunities in highly recognizable brands and exceptional franchisee support systems and services. AFC Enterprises had system-wide sales of approximately $2.6 billion in 2001 and can be found on the World Wide Web at http://www.afce.com.
Forward-Looking Statements. Certain statements in this release, and other written or oral statements made by or on behalf of AFC or its brands, are "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. These forward-looking statements are subject to a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the cost and availability of our principal food products, increased energy costs, labor shortages or increased labor costs, our ability to franchise new units and expand our brands, our and our franchisees' ability to successfully operate existing units and open new units, changes in consumer preferences and demographic trends, competition, general economic, political and regulatory conditions and the risk factors detailed in our Annual Report on Form 10-K for the year ended December 30, 2001 and the other documents we file with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements, since those statements speak only as of the date they are made.