Existing Multi-Unit Freshii Franchisee Signs Agreement to Develop 6 More Restaurants in New Jersey

TORONTO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Omnichannel health and wellness brand, Freshii Inc. (TSX: FRII) (“Freshii”, the “Company” or “we”), today announced it has entered into a new multi-unit agreement with brothers, Greg and Ryan Lahr, for the planned development of six new restaurant locations over the next five years in New Jersey, US. This deal brings the brothers’ total Freshii restaurants, both open and under agreement to develop, to eight, including an upcoming flagship restaurant opening in Newark, New Jersey, across from the Prudential Center, scheduled to open this upcoming winter.

“We’re very excited to expand our presence in New Jersey. We believe that developing these new restaurants presents a great opportunity to bring Freshii offerings to a large customer base and to strengthen the Freshii brand in the northeast United States,” says Adam Corrin, Chief Growth Officer of Freshii. “Greg and Ryan are proven operators and dedicated Freshii franchisees. With their deep knowledge of the Freshii system and the New Jersey market, we are confident in their ability to take on this multi-unit business, and are excited to take this next step with both of them.” Corrin added.

“We opened our first Freshii restaurant in 2019, and since then have watched as the brand has developed its omnichannel presence while continuing to bring its leading better-for-your QSR offerings to customers. Our relationship with the Freshii team has convinced us that we can do more together as we take these steps to further build out the New Jersey market,” says Greg Lahr. “Freshii’s support for its franchise system, including over the past few years of pandemic challenges, has been incredibly important to our operations. Its evolving technology and continued menu innovation have allowed us to meet the needs of today’s health and wellness focused customers, and we are confident will continue to do so as we expand,” added Ryan Lahr.

About Freshii

Eat. Energize. That’s the Freshii mantra. Freshii is an omnichannel health and wellness brand on a mission to help citizens of the world live better by making healthy eating and overall wellness convenient and affordable.

With a diverse and completely customizable menu of breakfast, soups, salads, wraps, bowls, burritos, frozen yogurt, juices, and smoothies served in an eco-friendly environment, Freshii’s restaurant business caters to every taste and dietary preference.

Freshii’s CPG offerings further increase the touchpoints that Freshii has with its customers, as does the Company’s majority interest in health and wellness ecommerce retailer, Natura Market.

Since it was founded in 2005, Freshii has grown to 331 franchised restaurant locations across North America, expanded its CPG lineup across hundreds of major retailer points of distribution and added Natura Market to its business lines. With the Company’s expanding distribution and product sets, Freshii guests can energize with Freshii’s products anywhere from cosmopolitan cities and fitness clubs to sports arenas and airplanes, as well as in major retail outlets and directly from home.

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Forward-Looking Information

Certain information in this news release contains forward-looking information and forward-looking statements under applicable securities laws. Particularly, statements which reflect the current view of management with respect to the Company's objectives, plans, goals, strategies, outlook, results of operations, financial and operating performance, prospects and opportunities, including statements relating to the expansion of the Company’s presence and store network; anticipated new store openings; the location and timing of opening of the upcoming flagship location in Newark, New Jersey; the number, location and timing of new store openings under the new multi-unit agreement for the planned development of new restaurant locations in New Jersey; the growth and development of the New Jersey market and customer base; the ability of the operators to take on the multi-unit business; the growth of the Company’s omnichannel presence and its continuing to bring better-for-you offerings to customers; the Company’s evolving support for its franchise system, including evolving technology; expectation that partners will continue to meet the needs of customers, constitute forward-looking information. In many but not necessarily all cases, the words "may", "will", "anticipate", "intend", "estimate", "expect", "plan", "believe", “lead”, “continue”, “plan”, “design”, “likely” and similar expressions identify forward-looking information and forward-looking statements. Forward-looking information and forward-looking statements should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indications of whether, or the times at which, such events, performance or results will be achieved. All of the information in this news release containing forward-looking information or forward-looking statements is qualified by these cautionary statements. Forward-looking information and forward-looking statements are based on information available to management at the time they are made, underlying estimates, opinions and assumptions made by management and management's current belief with respect to future strategies, prospects, events, performance and results.

Forward-looking information is subject to inherent risks and uncertainties surrounding future expectations generally, including, among other things, that such estimates, opinions and assumptions may not be accurate, particularly given the dynamic nature of the COVID-19 pandemic and the events and circumstances resulting from or associated with that pandemic, changes in market and competition, governmental or regulatory developments and a change in overall economic conditions generally. Such risks and uncertainties also include, but are not limited to, those described in the “Risk Factors” section of the Company’s Annual Information Form dated March 28, 2022, the Company's annual Management’s Discussion and Analysis dated August 10, 2022, and in the Company’s other filings, which are available on SEDAR at . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

Readers are urged to consider these risks, uncertainties and assumptions carefully in evaluating the forward-looking information and forward-looking statements and are cautioned not to place undue reliance on such information and statements. There can be no assurance that such information will prove to be accurate, as actual results and future events can differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any such forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.

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Source: Freshii Inc.