This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Florida Entrepreneur/Philanthropist Doubles Down On Pie Five Pizza Investment

THE COLONY, Texas, June 26, 2013 (GLOBE NEWSWIRE) -- One of Florida's most successful entrepreneurs is expanding his new pizza franchise footprint before the first location has even been completed.

Pie Five Pizza Co., a subsidiary of Pizza Inn Holdings, Inc. (Nasdaq:PZZI), has awarded an additional 15 franchise units to L. Gale Lemerand, bringing the total agreement to 25 restaurants in the state of Florida. The initial 10-unit agreement was announced in late-March.

Lemerand is moving quickly to introduce the trend-setting fast-casual pizza concept to the state, and has hired former Carrabbas executive John Tintsman as Vice President and Chief Operating Officer to support the expansion. The franchisee's first unit is projected to open in late 2013. The expanded agreement now covers the Orlando, Gainesville, Melbourne, Daytona Beach, St. Augustine and Jacksonville markets.

"I believe Florida is an ideal market for the Pie Five brand, which is why I've doubled-down on my investment," said Lemerand, the sole owner or partner in 29 successful restaurants across Florida. "Not only is the food quality, consistency and preparation time outstanding, but the company has an impressive infrastructure, world-class leadership, deep institutional knowledge and a top-notch operating model that will help us prosper."

Pie Five has been named a 2013 Top 50 Restaurant Brand of the Year, a 2012 Hot Concepts winner by Nation's Restaurant News and one of "10 Hot New Restaurant Chains from Established Brands" by Forbes.com.

"We simply couldn't have asked for a better franchise partner in Florida than Gale," said Madison Jobe, chief development officer for Pie Five. "Gale's success speaks for itself, and we are thrilled that he thinks so highly of the Pie Five concept that he's already decided to more than double his planned footprint in the state."

Lemerand's current dining network includes 17 Stonewood Grill & Tavern restaurants, five Peach Valley Café locations, four Houligan's sports bars, as well as Perkins Family Restaurant and Bakery, Ormond Wine Company and a tapas restaurant called The Dish.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs