COLORADO SPRINGS, Colo., Aug. 11, 2014 (GLOBE NEWSWIRE) -- During the second quarter, Bourbon Brothers Holding Corporation (the "Company") (OTCQB:RIBS) reported revenue of $1,428,000 against revenue of $623,000 during the second quarter in 2013. This represents growth of nearly 125% in topline revenues during the quarter. During this period of time, the addition of Bourbon Brothers Southern Kitchen in Colorado Springs, Colorado contributed to the majority of growth in system-wide sales quarter over quarter. Furthermore, the Company reported year to date revenues of $2,700,000 versus revenues over the same period of time in 2013 of $956,000, representing a nearly 180% increase in year to date revenue, year over year. "Our board couldn't be more excited about the second quarter and year to date revenue numbers and what they suggest in terms of the traction our current concepts are receiving and our ability to grow the system," said Company Chairman JW Roth.
Management expects significant percentage gains in quarter over quarter and year over year revenue growth for the foreseeable future, as it has plans to continue to rapidly grow the number of units within its system. The Company will look to maintain this growth over the next 18 – 24 months by continuing to open new company-owned stores. In addition to growing the Company's flagship concept, Bourbon Brothers Southern Kitchen, the Company will also be rolling out its next concept, 53 Peaks Local Kitchen, with two suburban Denver units later this year. The 53 Peaks Local Kitchen concept consists of modern American-fare, with a great emphasis on locally sourced, sustainably cultivated menu items complimented by local beers, wines and spirits.
The Company will begin to expedite its growth by strategically opening new units in second-generation restaurant properties. According to Company President Mitchell Roth, "By using an existing building to open a new store, the Company is able to reduce the cash outlay necessary to begin operations, greatly increasing the ROI from that store. All the while, this strategy also increases the store's value by reducing its occupancy expense and energizes our growth potential by reducing the lead time to begin operations in a new store."
The Company expects the two new 53 Peaks Local Kitchen units in 2014 to complement its two current units, Bourbon Brothers Southern Kitchen and Southern Hospitality Denver.
More information is available on the Company's website, www.BourbonBrothers.com.
Forward-Looking Statements
The information in this news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties, including statements regarding the Company's business strategy and expectations. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of such terms or other comparable terminology. Actual events or results may differ materially. The Company disclaims any obligation to publicly update these statements, or disclose any difference between its actual results and those reflected in these statements. The information constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
CONTACT: IR Contact: Mitchell Roth
mroth@bourbonbrothers.com
Phone: (719) 265-5821
PR Contact: Brandy Fugate
brandy@bourbonbrothers.com
Phone: (719) 265-5821
