SOUTHFIELD, Mich., July 1, 2013 (GLOBE NEWSWIRE) -- Diversified Restaurant Holdings, Inc. (Nasdaq:BAGR) ("DRH" or the "Company"), the creator, developer, and operator of the unique, full-service, ultra-casual restaurant and bar Bagger Dave's Legendary Burger Tavern ® ("Bagger Dave's") and one of the largest franchisees for Buffalo Wild Wings ® ("BWW"), today announced it has been added to the Russell 2000 ® index.
"Our inclusion in the Russell 2000 represents yet another key milestone for our Company and reflects the successful implementation of our growth strategy," stated Michael Ansley, President and CEO. "The inclusion in the index also broadens our market exposure as other investors will be introduced to and become more familiar with our story."
DRH believes there are significant opportunities to grow its brands in existing and new markets throughout the Midwest. The Company has established a disciplined strategy for opening new restaurants and, by the end of 2017, expects to operate approximately 50 corporate-owned Bagger Dave's and 47 BWW locations.The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe and is a subset of the Russell 3000 ® Index. The Russell 2000 Index represents approximately 10% of the total market capitalization of the Russell 3000 Index. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings, and style attributes. About Diversified Restaurant Holdings Diversified Restaurant Holdings, Inc. ("DRH" or the "Company") is the creator, developer, and operator of the unique, full-service, ultra-casual restaurant concept, Bagger Dave's Legendary Burger Tavern ® ("Bagger Dave's") and one of the largest Buffalo Wild Wings ® ("BWW") franchisees. Between the two concepts, the Company currently operates 47 corporate-owned restaurants in Michigan, Florida, Illinois, and Indiana, and one franchised Bagger Dave's in Missouri, for a total of 48 restaurants. The Company routinely posts news and other important information on its website at www.diversifiedrestaurantholdings.com . Bagger Dave's offers a full-service, family-friendly restaurant and bar with a casual, comfortable atmosphere. The menu features freshly-made burgers, accompanied by more than 30 toppings from which to choose, along with fresh-cut fries, hand-dipped milkshakes, and a selection of craft beer and wine. Signature items include Sloppy Dave's BBQ ®, Train Wreck Burger ®, and Bagger Dave's Amazingly Delicious Turkey Black Bean Chili ®. The Bagger Dave's concept emphasizes local flair by showcasing historical photos of the city in which each restaurant resides and features an electric train that runs above the dining room and bar areas. Currently, there are 12 corporate-owned locations and one franchised location. For more information, visit www.baggerdaves.com . DRH operates 35 BWW restaurants: 17 in Michigan, 10 in Florida, 4 in Illinois and 4 in Indiana. The Company has opened 21 new BWW restaurants in fulfillment of its 32-store Area Development Agreement ("ADA") with franchisor Buffalo Wild Wings, Inc. (Nasdaq:BWLD). The remaining 11 restaurants under the ADA agreement, along with an additional franchise agreement in Indiana, suggest that the Company will operate 47 BWW restaurants by 2017.