SYRACUSE, N.Y.--(BUSINESS WIRE)--
Carrols Restaurant Group, Inc. ("Carrols" or the "Company")
(Nasdaq:TAST) today announced that on July 11, 2014 it signed a
definitive agreement to purchase 21 BURGER KING® restaurants from
Kessler Group, Inc. The restaurants are located in or around Rochester,
NY and in the "Southern Tier" region of Western New York State. The
transaction is expected to close by the end of July 2014 and is subject
to customary closing conditions.
The Company continues to expand and to increase its ownership of BURGER
KING® restaurants. Carrols also recently completed the acquisition of a
total of eight BURGER KING® restaurants in two separate transactions. On
June 30, 2014, Carrols completed the purchase of four BURGER KING®
restaurants in the Pittsburgh, Pennsylvania market. The Company
previously announced that it had also closed on the acquisition of four
BURGER KING® restaurants located in Fort Wayne, Indiana on April 30,
2014.
Daniel T. Accordino, the Company's Chief Executive Officer said,
"Earlier this year we completed a public offering of common stock to
position us for opportunities such as these. Carrols has a track record
of improving the operations and profitability of restaurants it has
acquired and we believe we will enhance shareholder value as we execute
our strategy to further expand our ownership within the BURGER KING®
system. We expect to make additional announcements of this nature in the
future."
About the Company
Carrols Restaurant Group, Inc. is the largest BURGER KING®
franchisee in the world with 564 restaurants as of June 30, 2014 and has
operated BURGER KING® restaurants since 1976. For more information on
Carrols, please visit the company's website at www.carrols.com.
Forward-Looking Statements
Except for the historical information contained in this news release,
the matters addressed are forward-looking statements. Forward-looking
statements, written, oral or otherwise made, represent Carrols'
expectation or belief concerning future events. Without limiting the
foregoing, these statements are often identified by the words "may",
"might", "believes", "thinks", "anticipates", "plans", "expects",
"intends" or similar expressions. In addition, expressions of our
strategies, intentions or plans are also forward-looking statements.
Such statements reflect management's current views with respect to
future events and are subject to risks and uncertainties, both known and
unknown. You are cautioned not to place undue reliance on these
forward-looking statements as there are important factors that could
cause actual results to differ materially from those in forward-looking
statements, many of which are beyond our control. Investors are referred
to the full discussion of risks and uncertainties as included in
Carrols' filings with the Securities and Exchange Commission.
Carrols Restaurant Group, Inc.
Investor Relations:
800-348-1074,
ext. 3333
investorrelations@carrols.com
Source: Carrols Restaurant Group, Inc.
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