Five Leading U.S. and Canadian Restaurant Chains Join Forces to Target New Markets

BURLINGTON, Vt.-- (BUSINESS WIRE) -- Five market leading U.S. and Canadian restaurant chains -- Bruegger’s Bagels, Fazoli’s Restaurants, Friendly’s Ice Cream, Smokey Bones Bar & Fire Grill and Timothy’s Coffees of the World Inc. -- today announced that they have joined forces to target non-traditional concession opportunities around the country, including food courts at airports, universities and hospitals.

Under a joint strategic development program, the five restaurant chains would be able to bundle and leverage their brands, as well as key personnel, to pursue non-traditional concession opportunities while leveraging the efficiencies of the related brands. This program offers airport, university and hospital operators and concessionaires a broad range of restaurant choices from a single point of contact. While in some cases, a brand may decide to move into a new target market on its own, the bundling concept presents a competitive value proposition to leasing and real estate agents, suppliers, contractors, and potential franchisees and a viable concession option for airports, universities and hospitals. The companies, with the backing of their financial sponsor -- Sun Capital Partners, plan to take a flexible approach to bundling brands, meaning that depending on the availability of space or preference for certain brands, they will offer a single brand option or a combination of two, three, four or five nameplates.

In particular, travelers stand to benefit from this strategic development program, since most U.S. airlines have continued to scale back their food services. The program has created an opportunity to add exciting new breakfast, lunch and dining options to existing food outlets at airports, as well as bring attractive food choices to universities and hospitals.

The chains are poised to build upon the earlier success of Bruegger’s in expanding its market presence to airport locations in 2008, including Boston’s Logan Airport, Cincinnati/Northern Kentucky International Airport, Raleigh-Durham International Airport and Cleveland Hopkins. Airport Revenue news (ARN) just recently nominated Bruegger’s Bakery-Café for five of the publication’s 2010 Best Airports & Concessionaire Awards, which recognize the nation’s top retail and restaurant operators at airports.

Bruegger’s, Friendly’s, Fazoli’s, Smokey Bones and Timothy’s -- an independent brand and operating division of Bruegger’s -- combined currently operate almost 1,300 restaurants and outlets in 28 states, with all five chains enjoying a strong brand recognition in their respective markets.

“We look forward to introducing our compelling suite of brands to concession directors, concessionaires and potential franchisees around the country with the goal of bringing a broader choice of quick, yet delicious portable menu options to alternative venues in our target markets,” said Chris Cheek, Vice-President of Franchise Development at Bruegger’s.

About Bruegger's Enterprises, Inc. (www.brueggers.com)

Bruegger's is a leader in the fast casual restaurant segment. Bruegger's is dedicated to serving delicious, wholesome food that brings guests back again and again. In 290 neighborhood bakery-cafes in 24 states and the District of Columbia, Bruegger's offers a warm, comfortable setting for guests to enjoy a wholesome meal with family and friends. Famous for authentic New York-style, boiled and baked bagels, Bruegger’s entire menu is free of trans-fats and features a Fair Trade Certified^TM coffee everyday from Green Mountain Coffee^?. Bruegger's bakers use their expertise to bake not only bagels, but an array of fresh breads including honey wheat, hearty white and the exclusive Softwich. Guests can count on innovative menu items, including unique cream cheese flavors, delicious breakfast sandwiches and wraps, hand-tossed salads, hearty soups, signature and custom order sandwiches and desserts. Founded in 1983, Bruegger's is headquartered in Burlington, Vermont and supports its neighbors in every community it serves.

About Fazoli’s Restaurant Group, Inc. (www.fazolis.com)

Fazoli’s Restaurant Group is the largest quick service Italian restaurant chain in the U.S. with 240 locations in 26 states. Fazoli’s menu includes a variety of traditional and innovative Italian food offerings, including Oven-Baked Pasta, Submarinos?, Pizza, Salad, Desserts and Unlimited Signature Garlic Breadsticks. With sit down restaurant quality food served in a fast, fun environment, Fazoli’s delivers a great value and is a favorite with families.

About Friendly Ice Cream Corporation (www.friendlys.com)

Friendly Ice Cream Corporation is a vertically-integrated restaurant and ice cream company serving signature sandwiches, entrees, and ice cream desserts in a friendly family environment in over 500 company and franchised restaurants throughout the eastern United States. Friendly’s manufactures and distributes its own ice cream through its restaurants and more than 4,000 supermarkets and other retail locations. Friendly's opened its first unit of a fast-casual concept, Friendly's Express, in August 2009.

About Smokey Bones Bar & Fire Grill (www.smokeybones.com)

Smokey Bones is a full-service bar and fire grill restaurant that operates 68 locations in 17 states and employs 4,000 people. The restaurant was rebranded in 2008, featuring a more laid-back type atmosphere, while still providing a genuine feeling and vibrancy to the guest experience. The restaurant’s new liveliness can be seen not only in the décor and design; thanks to the rebranding, the Smokey Bones teammates are allowed — and even encouraged — to inject their own personality and energy into the bar and dining experience.

About Timothy’s Coffees of the World Retail Operations (www.timothys.com)

Timothy's World Coffee owns and operates 166 retail stores under the Timothy's World Coffee brand, as well as mmmuffins and Michel's Baguette quick service casual restaurants. For over 30 years, Timothy's has roasted the finest Arabica beans from throughout the world in its own roasting facility, resulting in specialty coffees with the richest aroma and best possible flavor. Approximately 70% of its stores are located in Ontario.

About Sun Capital Partners, Inc. (www.suncappart.com)

Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 210 companies worldwide since Sun Capital’s inception in 1995 with combined sales in excess of $40 billion. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates with offices in London, Paris, Frankfort, and Shenzhen and Shanghai, China. Sun Capital, one of the most active private investment firms in the U.S., closing 170 transactions from 2002 through 2009, was the recipient of the M&A Advisor Private Equity Firm of 2008 award.

Sun Capital Partners’ portfolio of restaurant affiliates include Boston Market, Friendly’s Ice Cream, Sweet Tomatoes, Souplantation, Real Mex, Fazoli's, Bruegger's Enterprises, Souper Salad, and Restaurants Unlimited, representing over 2,200 locations and $3.4 billion in sales.

Stanton Public Relations & Marketing

Katrin C. Lieberwirth, 646-502-3548 (direct)

klieberwirth@StantonPRM.com