(MENAFN- GlobeNewsWire - Nasdaq)
Pittsburgh, PA, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Gourmet Provisions International Corporation (OTC Pink: GMPR) is pleased to announce the company has signed an acquisition agreement to purchase controlling interest in two Florida based Black Rock Bar & Grills. According to the terms set forth in the agreement, GMPR will buy 51% of the Tampa, Florida and Brandon, Florida Black Rock Bar & Grill locations, which will include all the assets, debts, service contracts and revenues.
The acquisition of these two Black Rock locations by GMPR, with combined sales of more than $6 million in annual revenue , is the beginning of implementing the corporate growth plan to acquire the master franchising rights for the state of Georgia and Pennsylvania as well as controlling interest in other existing Florida, Maryland, Ohio and Michigan-based Black Rock Bar & Grills.
“We have been working on this acquisition over the past year and are very excited to finalize this deal,” said Jim Vowler, CEO of Gourmet Provisions.“Over the past year, we have learned a lot about the great quality of the Black Rock brand and are currently negotiating the acquisition of other BR locations, which we anticipate obtaining signed agreements over the next couple of quarters.
Future announcements will provide full details and accurate annual revenue potential of an additional $15 million in revenues, bringing the projected annual revenues to approximately $33,000,000+.
Paul Samson, President of Black Rock Florida, shared the excitement iterated by Vowler and sees tremendous synergy between the two companies.
“There was tremendous teamwork on both sides to get this done, and we look forward to partnering and working with Gourmet Provisions,” Samson said.“We are excited about the opportunity of a single funding solution and expertise to grow Black Rock Florida throughout the region and beyond.”
For Vowler, this deal is a major steppingstone to an uplist to NASDAQ, which has been on his radar for quite some time.
“The opportunity to partner with Paul and Black Rock Florida was an easy one, Vowler added.“This acquisition will immediately add more than $6 million to our bottom-line revenues and will be an important catalyst to build shareholder equity as we work towards uplisting to NASDAQ.”
Vowler also noted that the company will be disseminating updates on the audit process for the 2020 and 2021 fiscal years. On the product end, Pizza Fusion Pizzas and Jose Madrid Salsa store placements are continuing grow exponentially, which includes expanding into two new grocery chains. Additionally, new products and flavors are coming for Cousin T's, an announcement regarding GMPR's deal with the U.S. Military for our Pizza Fusion Founder's Pie frozen pizza.
About Black Rock Bar & Grill:
Where the Sizzle all Began
It all started on October 27, 2010 in Hartland, Michigan, a small town in a very tightly bonded-community.
Black Rock Bar & Grill opened its doors and brought with it a dining experience unlike any other. By pairing family recipes, a 755-degree volcanic stone, and a love for food, the Morganroth family knew they were a perfect fit for the restaurant industry; however, they had no prior restaurant experience, working only off their dream of what Black Rock could become.
With a very determined family and help from the community, Black Rock grew into something remarkable. Voted the #1 steakhouse in Michigan for three consecutive years, the family in 2013 entered a nationwide competition to be named“America's Next Top Restaurant Franchise” and won first place! Today, Black Rock is expanding across the nation. We are home grown, and soon to be nationally known.
Steak COOKED TO perfection BY YOU
Welcome to Black Rock Bar & Grill, an award-winning steakhouse specializing in Certified Angus Beef ® steaks served and cooked to perfection by you on a 755-degree volcanic sizzling rock. Our concept ensures that every bite is just as hot and juicy as the first, and is always cooked just the way you like it!
This method of cooking is the newest phenomenon in the culinary world. It creates a memorable dining experience, making Black Rock the ideal restaurant for special occasions, as well as for everyday dining with friends and family.
WHY EAT ORDINARY, WHEN YOU CAN EAT ON A ROCK?!
Visit Black Rock Bar & Grill website:
About Gourmet Provisions International Corporation:
Gourmet Provisions International Corp . partnered with Jack Brewer (GMPR's Brand Ambassador) & Brewer Media & Entertainment Group in October of 2017. Brewer Media Group was brought on to help build all aspects of the many Unique brands. With a primary focus on the increase of online and retail sales, social media presence and overall content, public persona and awareness, acquire acquisition opportunities and much more. The company has five wholly owned subsidiaries Jose Madrid Salsa , Pizza Fusion , Unique Tap House, Unique Foods CBD Edibles and PopsyCakes and a Licensing distribution agreements with Christopher Street Products& Cousin T's .
Gourmet Provisions International Corp:
Jose Madrid Salsa:
Christopher Street Products:
Safe Harbor Act: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions. There are no financials in this press release so this is not needed and undermines the release.
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