Big Boy Restaurants Announces Area Development Agreement Covering All Of Arizona

WARREN, MICHIGAN | Monday, October 21, 2002

Tony Michaels, CEO of Big Boy Restaurants International LLC, announced the signing of the company's first Area Development Agreement with Grant Goodman, a Phoenix, Arizona entrepreneur. The new agreement gives exclusive rights for the state of Arizona to Goodman and outlines plans for him to build ten (10) Big Boy restaurants over the next seven years. The new agreement was signed on September 26, 2002. Goodman is president of Rockland Materials of Phoenix, Arizona and owner of several Arizona companies including Stirling Bridge Cement Company, Triad Commercial Captive Insurance Co., West Highland Water and Power, Envirofuel and New York Newport Assurance Co. "This is a major step forward for Big Boy Restaurants International LLC and it fits neatly into our strategic plans for controlled expansion in the Midwest, Southwest and Southern California," said Tony Michaels. Under the new agreement, Goodman will build a total of 10 Bob's Big Boy restaurants in Arizona over seven years. The contract stipulates that Goodman is to build two restaurants in Phoenix over the next 18 months with a total of five to be built in Phoenix over seven years. Goodman will also build Big Boy restaurants in Tucson and other parts of Arizona during the seven-year agreement. It is expected these new Bob's Big Boy restaurants will ultimately provide up to 70 jobs per location. The new Arizona Big Boy restaurants will be built around the concepts established in the new 4,400 square-foot Big Boy restaurant prototype store, the first of which is being built in Grand Rapids, Michigan. The new Arizona Big Boy restaurants will seat up to 150 customers and will be designed to remember the past, yet embrace the future. The new Arizona Big Boy stores will be as warm and friendly as the Big Boy icon himself. "We are excited about this new venture," said Goodman. "It is a way for the company to diversify its holdings and expand into a somewhat recession- proof business," he added. Goodman indicated this new agreement will rely heavily on the comprehensive franchise support services and expertise provided by Big Boy Restaurants International LLC. Goodman also stated Big Boy Restaurants International LLC will play a key role in selecting and training the new Arizona Bob's Big Boy employees as well as handling the marketing of the new restaurants in Arizona.

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Phone: (586)759-6000
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