Surf City Squeeze, a Wholly Owned Subsidiary of Sports Group International Inc., Enters Arabian and World Markets
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--April 5, 1999--Sports Group International Inc.'s (OTC BB:SPGK) wholly owned subsidiary,
Surf City Squeeze, has executed a Master Franchise Agreement with Al Mana International Est., a franchisee of Subway, to operate Surf City Squeeze locations in the Arab countries of Qatar U.A.E., Saudi Arabia, Oman, Bahrain, Kuwait, Egypt, Lebanon and Jordan.
The Master Franchisee is committed under the terms of the Agreement to open a minimum of 25 locations. The lease has been executed for the first Surf City Squeeze location scheduled to open in 90 days in Saudi Arabia.
Surf City Squeeze is a juice bar company with in excess of 110 locations throughout the United States. Its business focuses on
directing, designing, building and franchising juice bar retail outlets within targeted markets such as high image fitness clubs, upscale shopping malls and university campuses.
Surf City Squeeze has Master Franchise Agreements in effect for Canada and Portugal and is in communication with Master Franchisee for operations in England.
This news release contains forms of forward-looking statements that are based on the company's beliefs as well as assumptions made by and information currently available to the company. Such statements are subject to certain risks, uncertainties and assumptions that are identified and periodic reports on file with the SEC.
Sports Group International Inc. Announces First Acquisition SPGK
PALM DESERT, Calif.--(BUSINESS WIRE)--March 16, 1999--Investors Communications Group Inc., the public relations firm acting on behalf of Sports Group International Inc., Tuesday announced an investor's opinion in order to notify analysts, brokers, market makers, institutional and retail investors, as well as media representatives, that its client, Sports Group International Inc., a leading sports beverage company, has started trading under the symbol OTC BB:SPGK.
Visit the Web site at: www.sportsgroupintl.com.
Sports Group International announced the acquisition of SGI, the exclusive licensee of the Spalding Sports Worldwide name for the beverage industry. It is currently engaged in the sales and distribution of beverages in the water/sports drink category under such names as "Spalding Sports Drinks" and "Spalding Sports Water Pure Energy" throughout the United States, Mexico and Canada. SGI has many prominent celebrity athletes active in the promotion of the company as well as shareholders, including such names as Joe Namath, Kiki Vandeweghe, Larry Holmes and Clyde Drexler. According to Beverage World Magazine, in 1997 the fruit beverage, sports drink and bottled water markets accounted for more than $12 billion in retail sales.
Sports Group International also announced that along with its acquisition of SGI, it has purchased Surf City Squeeze, a smoothie/juice bar company with over 110 stores in the United States. Surf City Squeeze had over $17 million in system wide sales in 1998. According to Entrepreneur Magazine, the health and nutrition industry is a $17 billion a year business.
Board of director member Vandeweghe feels that the acquisitions of SGI and Surf City Squeeze are a natural progression to the healthy lifestyle of the American consumer. The evolution of the smoothie/juice bar concept as a healthy alternative to a meal mirrors the health conscious message that SGI has always tried to convey. The company will continue to do business as Sports Group International Inc.
Further information can be obtained from Investors Communications Group Inc. at: 800/368-5138; E-mail: firstname.lastname@example.org.
This news release contains forms of forward-looking statements that are based on the company's beliefs as well as assumptions made by and information currently available to the company. Such statements are subject to certain risks, uncertainties and assumptions that are identified and described in the company's registration statements and periodic reports on file with the SEC.