Industry News | May 28, 2004

Obee's Sold to Ultimate Franchise Systems

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Ultimate Franchise Systems, a franchise management and venture company, announced today the signing of a letter of intent to acquire Obee's Franchise Systems, owner of Obee's Subs, a growing chain of more than 65 sandwich shops with 70 more under development. Obee's is based in Port Charlotte, Florida.

Ultimate Franchise Systems CEO Christopher Swartz said in a statement, "Obee's fits perfectly within UFSI's strategy of acquiring regionally powerful restaurant brands with a history of success and a strong base of franchisees."

Swartz continued, "Obee's is a strong brand with a unique identity. We feel through our established infrastructure, we can increase support and resources for their area developers and franchisees while allowing the company to continue to grow rapidly, which is what has set them apart as a chain."

Said Jim Patrick, president of Obee's: "We are very excited that we have been able to agree to become part of the Ultimate family. We have experienced exceptional growth, and through this transaction, we will be able to grow our infrastructure exponentially almost overnight."

Ultimate Franchise Systems currently has investments in approximately 524 franchised restaurants in 30 states throughout the United States. These brands include Gator's Dockside Restaurants, Jreck Subs, Central Park Hamburgers, Li'l Dino's Deli and Grille, Sobik's Subs, Famous Uncle Al's Hot Dogs, Westshore Pizza, and New York Burrito.