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SOURCE Grillit, Inc
MIAMI, February 24, 2014 /PRNewswire/ --
GRILLiT, Inc. ("GRILLiT" or the "Company") (OTC: GRLT) today announced that the Company is broadening its corporate vision to include a strategy of acquisition of interests in health-conscious, premium foods suppliers, restaurant franchises, and other synergistic entities within the expanding healthy, natural foods sector.
In order to more accurately reflect this expanded strategy, the Company has begun the process to change its corporate name from GRILLiT, Inc. to "Healthy & Tasty Brands Corporation."
The Company plans to operate GRILLiT as a wholly owned subsidiary, which will continue to carry out its restaurant operations and franchise development plan.
The Company recently expanded its menu options by entering into a supply agreement with Natura Foods, LLC, the exclusive distributor of "Gaucho Ranch" branded South American natural and organic grass-fed beef (announced December 19, 2013). As part of the transaction, the Company made an agreement to acquire a 10% equity stake in Natura Foods. This investment is an example of other such transactions the Company is currently evaluating.
"Our expanded strategy is to identify companies with growth potential in the natural and healthy foods sector that are complementary to our core focus of developing the brand names of tomorrow in the emerging fresh and healthy restaurant segment," said the Company's CEO, Ghazi Hajj. "We believe that by acquiring these types of ownership interests and forging strong alliances with these types of companies that we can greatly accelerate our goal of becoming a leader in the healthy, fast casual segment. This strategy further represents a pathway to additional revenue streams, as well as new cross marketing and branding opportunities."
The Company will announce updates as this plan is implemented throughout the course of the next several weeks.
GRILLiT (GRLT) is a growing Latin-Caribbean fusion restaurant concept that marries fast casual to nutritious and healthy food. The company opened its first location in Miami in 2011 and specializes in chef-inspired custom crafted rice bowls, pasta and wraps as well as salads. GRILLiT utilizes domestic growers and delivers healthy cuisine using only fresh proteins, such as never-frozen chicken and Angus beef. Restaurants offer an inviting and comfortable atmosphere with an open kitchen and contemporary, industrial design. For more information, visit http://www.grillitinc.com.
Forward Looking Statements:
Statements in this press release that are not purely historical facts, including statements regarding GRILLiT's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1996. Such statements consist of any statement other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "plan", "may", "expect", "anticipate", "intend", "estimate" or "continue" or the negative thereof or other variations thereof or comparable terminology. The reader is cautioned that all forward-looking statements are speculative, and there are certain risks and uncertainties that could cause actual events or results to differ from those referred to in such forward-looking statements. This disclosure highlights some of the important risks regarding our business. Specifically, the reader should not place undue reliance on statements regarding our ability to open 58 new franchised restaurants in the next five years. Additionally, there are number of other risk factors relating to our business more fully explained identified by us in our filings with the OTC Markets, which are available through http://www.otcmarkets.com.
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