GFY Foods, Inc. in Negotiations for Willowbrook Frullati Cafe
BUFFALO GROVE, Ill., May 4 /PRNewswire-FirstCall/ -- GFY Foods, Inc.(NASDAQ-OTCBB:GFYF) (OTC Bulletin Board: GFYF) announced today that it is in negotiations to acquire a Frullati cafe and bakery in the Willowbrook Athletic Club, in Willowbrook, Illinois.
"This is a beautiful club, and a great looking store," said Ed Schwalb, President of GFY Foods, Inc.(NASDAQ-OTCBB:GFYF) "We are negotiating with the cafe owners right now, and are hoping for a solid contract within a day or two. It is the company's intention that the cafe's owners will stay onboard for a few months to ease the transition phase. After that time, our own management team will take over, implementing GFY Foods'(NASDAQ-OTCBB:GFYF) ideals and growth strategies."
"Our corporate growth is on track. It is planned that each new acquisition will retain, for a small period, the original owners. That is valuable in getting our staff and management acclimated and trained for each new property. Otherwise, the company may grow beyond its capacity to manage new sites."
The company is currently operational regionally in the Buffalo Grove, Illinois and Elkhart, Indiana areas. It has plans to become national by rolling out additional locations in key market segments and working closely with the Kahala Corporation. It hopes to open 8-10 new locations by the end of calendar 2004, in metropolitan areas where there is minimal competition and significant upside to build a brand and establish the company nationally. And, to continue to aggressively private label new/existing products that may integrate well with its existing line up of products and services.
About GFY Foods, Inc.(NASDAQ-OTCBB:GFYF)
Founded in the spring of 2003 by Ed Schwalb, GFY Foods(NASDAQ-OTCBB:GFYF) is operating restaurant locations in Buffalo Grove, Illinois and Elkhart, Indiana. The company believes in the importance of providing high quality foods at affordable prices that are healthy alternatives to food that is now being sold to the American public. For more information please contact Ed Schwalb, President, 847.353.7554, 601 Deerfield Parkway, Buffalo Grove, IL 60089. ares@bwwonline.com
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.
SOURCE GFY Foods, Inc.(NASDAQ-OTCBB:GFYF)
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-0- 05/04/2004
/CONTACT: Ed Schwalb, President of GFY Foods(NASDAQ-OTCBB:GFYF)
§, +1-847-353-7554,
ares@bwwonline.com/
(GFYF)
CO: GFY Foods, Inc.(NASDAQ-OTCBB:GFYF)
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ST: Illinois
IN: RST FOD
SU: TNM
JM
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3682 05/04/200411:22 EDTwww.prnewswire.com
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