Press release from PR Newswire
DIXI Foods International Acquires Restaurant Group - KCI Investments, LLC
Wednesday, June 11, 2014
DIXI Foods International Acquires Restaurant Group - KCI Investments, LLC10:46 EDT Wednesday, June 11, 2014
WILLISTON, Fla., June 11, 2014 /PRNewswire/ -- DIXI Foods International, Inc. (OTC: DIXI) has acquired KCI Investments, LLC. KCI builds and operates a growing, multi-brand chain of fast casual restaurants, currently under two franchise brands: Capriotti's Sandwich Shops and Papa John's (Papa John's International: NASDAQ: PZZA).
Headquartered in Las Vegas, Nevada and incorporated in 2004, KCI currently:
- operates 12 franchised Capriotti's Sandwich Shops in: Clark County, Nevada; Dallas/Fort Worth; Texas and four counties in Southern California, and
- has numerous additional Capriotti's and Papa John's locations in various stages of development.
KCI currently has exclusive development areas for Capriotti's Sandwich Shops in all of Dallas/Fort Worth and its Southern California markets (Orange County, San Diego County and parts of Los Angeles County), and is committed per various franchise agreements to build 99 locations. KCI and also has the exclusive rights to develop Papa John's in trade areas stretching from Fresno to north of Sacramento, California, and is committed per its agreement with Papa John's to build 24 locations over a two-year period.
Additionally, KCI Investments recently signed an agreement in principal with celebrity chef Alex Stratta to jointly develop, open and operate various restaurant and other food-service concepts. Stratta was the first "Iron Chef", having played the role of Iron Chef Italian on the television show Iron Chef USA, and has been nicknamed the "Italian Scallion". KCI Investments anticipates opening the first of three different restaurant concepts within the next year, and also anticipates expanding such concepts in the future with KCI Investments as the operator or the franchisor.
DIXI, a Florida corporation, currently is a development stage company founded in 2010 and headquartered in Williston, Florida.
Under the terms of the acquisition, KCI's owner, KCI Holding I LLC, received 96% of the shares of Dixie Foods International, Inc. outstanding after the acquisition. DIXI now has 42,514,976 shares outstanding.
Additional information regarding DIXI's acquisition of KCI Investments can be found in the DIXI's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 10, 2014.
For information contact:
DIXI Foods International, Inc.
This press release contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events and similar expressions. Forward-looking statements may be identified by use of words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," or "potential" or similar words or phrases which are predictions of or indicate future events or trends. Statements relating to plans and objectives for future operations, including those relating to KCI Investments, LLC, are based on DIXI's current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Any of these statements could prove to be inaccurate and actual events or investments and results of operations could differ materially from those expressed or implied. To the extent that DIXI's assumptions differ from actual results, DIXI's ability to meet such forward-looking statements may be significantly and negatively impacted. You are cautioned not to place undue reliance on any forward-looking statements and DIXI disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, future events or other changes. Please refer to DIXI's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") for the fiscal year ended August 31, 2013 and subsequently filed SEC reports for further information.
SOURCE DIXI Foods International, Inc.