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All American Food Group, Inc. Announces Agreement To Acquire Up To Eight Additional Stores

All American Food Group, Inc. Announces Agreement To Acquire Up To Eight Additional Stores

FAIRFIELD, N.J.–(BUSINESS WIRE)–Jan. 23, 1997–ALL AMERICAN FOOD GROUP, INC. (NASDAQ: AAFG) announced today that the Company has signed an agreement in principal to acquire up to eight stores in the New Haven, Connecticut area.

Four stores currently operating under the name Bagel Connection will be immediately converted to the Company’s Goldberg’s Original Old World Bagels stores. An additional four stores may be converted to Goldberg stores in the coming weeks.

Mr. Andrew Thorburn, President and CEO of All American Food Group, Inc. stated, “We are very pleased to announce this agreement with Bagel Connection. The conversion of the Bagel Connection stores to Goldberg stores will help launch All American Food Group’s presence in Connecticut, an important market in the national rollout of our franchise system.”

ALL AMERICAN FOOD GROUP, INC., together with its wholly owned subsidiaries, franchises two distinct bagel store concepts under the names Goldberg’s Original Old World Bagels and Sammy’s New York Bagels, distributes bagel bakery equipment and currently operates four retail bagel stores. In addition, the Company currently has ten franchise stores with five additional franchises expected to open within the next ninety days.

CONTACT: ANDREW THORBURN, CEO, (201) 244-9336

ROBERT MOORE, IR, (908) 788-9660

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