Published:
Papa Bello Sells Area Development Rights for Shanghai, China
LAS VEGAS, Nov. 20 /PRNewswire-FirstCall/ -- Papa Bello Enterprises
(Pink Sheets: PAPA) is pleased to announce the sale of area development rights
for the city ofShanghai inthe Peoples Republic of China to partners Mr.
Zhiqing Ma and Mrs. Hsiao (Cathy) Endy. Under the terms of the agreement, a
minimum growth of 60 units is contracted for the region.
Construction on the first restaurant is underway, with an opening date
scheduled before the end of 2008. The upscale, 8,000 square foot store will be
located on one of the area's busiest intersections, along Tianyaoqiao Road, in
the Xuhuiqu district. In addition to theShanghai region, the agreement also
includes development rights to theJiangsu and Zhejiang Provinces.
Mr. Ma, ofShanghai, has an extensive background in real estate
development and franchising. He acted as the general operations manager for
the US based bakery franchise Shanghai Metro Delicate Confectionary partnered
with the Shanghai Subway Train Station. From 1999 to 2002, he facilitated
store growth from 30 to 107 units. Recently, Mr. Ma is involved in a joint
venture between his Chengdu Jingyi Real Estate Development Co. and Beijing
Zhongxin Real Estate Development Co. in a project of building 40-story
commercial and residential units on 13 acres inChengdu,Sichuan.
Mr. Ma states, "After opening 77 stores in less than four years, we saw an
equivalent opportunity for growth with Papa Bello inChina."
Mrs. Endy, resident ofLas Vegas, Nevada, acted along with Mr. Ma as
part-owner of Shanghai Metro Delicate Confectionary Company. Her experience in
owning convenience stores and restaurants began over 15 years ago. Recently,
she served a six-year tenure as the President of the Chinese American
Association ofLas Vegas, and is currently the Principal of the Las Vegas
Chinese School.
Mrs. Endy states, "I have full confidence in my partner's capability,
experience, and wealth of knowledge. Combining these strengths with the energy
and vision of Papa Bello's CEO Chase Canfield, I am certain this is the most
promising publicly traded pizza company of its time, which will continue its
steady march towards success."
About Papa Bello Enterprises
Founded in 2005, Papa Bello Enterprises is aLas Vegas, NV based
corporation that owns, operates, and franchises Italian style eateries inthe
United States. The company currently has 20 stores in operation and has a
master lease agreement with Wal-Mart. The company was founded on the
principles of providing the consumer with the highest standards of quality,
value, and service. For more information on Papa Bello Enterprises or
franchise information, please visit http://www.papabellopizza.com.
Forward-Looking Statements Disclosure This press release may contain
"forward-looking statements" within the meaning of the federal securities
laws. In this context, forward-looking statements may address the Company's
expected future business and financial performance, and often contain words
such as "anticipates," "believes," "estimates," "expects," "intends," "plans,"
"seeks," "will," and other terms with similar meaning. These forward-looking
statements by their nature address matters that are, to different degrees,
uncertain. Although the Company believes that the assumptions upon which its
forward-looking statements are based are reasonable, it can provide no
assurances that these assumptions will prove to be correct. All
forward-looking statements in this press release are expressly qualified by
such cautionary statements, risks, and uncertainties, and by reference to the
underlying assumptions.
Contact:
Noelle Rodriguez Email: info@papabellopizza.com Phone: (702) 948-6888
Brokers and Analysts call
Aero Financial, Inc 972-265-7590
AGORACOM Investor Relations
http://www.agoracom.com/ir/papa
PAPA@agoracom.com
SOURCE Papa Bello Enterprises
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
Daily News
Tags: ,FOD,RST,RLT,OTC,RLE,NV-Papa-Bello-Sells
_ _Is your favorite bookmark site missing?
Ask for it.