ARC Group Appoints Finance Veteran Alex Andre as Chief Financial Officer
Monday, 22 July 2019 *JACKSONVILLE, FL / ACCESSWIRE / July 22, 2019 /* ARC Group, Inc. (OTCQB: RLLY), a restaurant holding company with a focus on diversified, full-service restaurants and brands, today announced the appointment of Alex Andre as Chief Financial Officer. Mr. Andre will also be appointed as General Counsel once licensing and registration requirements are completed in the state of Florida.
Mr. Andre brings nearly 20 years of executive management, financial, legal and operational experience. Prior to joining ARC Group, Mr. Andre served as the Co-Founder and Co-Manager of THS Ventures, LLC, a consumer products company formed to execute a roll-up strategy and exploit distressed market conditions. He also served as a financial, legal and business consultant for a variety of public and private companies, including ARC Group. Prior to that, Mr. Andre served as the Chief Financial Officer, and later Chief Executive Officer, of HMS, LLC, a national consumer products company. During his career, Mr. Andre served as the Chief Financial Officer and General Counsel for a national healthcare membership company that he successfully led through its initial public offering, and served as the Chief Financial Officer and General Counsel for a biotech company that he co-founded that was focused on RNA-based therapies for individuals suffering from debilitating diseases. Earlier in his career, Mr. Andre served as a corporate and securities attorney for the international law firms of Sullivan & Worcester LLP and Duane Morris LLP, and served as an accountant for KPMG LLP, an international accounting and consulting firm. Mr. Andre received a B.S. in Accounting from Purdue University and a Juris Doctor from Boston College Law School.
Seenu G. Kasturi, CEO of ARC Group, Inc., commented, “Alex has served as a senior advisor to the company since we entered the public markets and has been a tremendous asset as we established both our corporate and operational infrastructure. We are pleased to formally welcome Alex to the senior management team in this new full-time role as we enter our next phase of growth. Alex brings extensive expertise in strategic management, financial accounting, operations, regulatory compliance, financing transactions, as well as mergers and acquisitions, with a particular focus on high-growth public and private companies. We look forward to his ongoing contributions as we continue to aggressively expand our national footprint, both organically and through acquisitions. Moreover, we look forward to Alex’ involvement in helping maintain the highest levels of corporate governance.”
“I am very excited to join ARC,” stated Alex Andre. “ARC has a terrific and talented team, many of whom I’ve known for several years, and has entered a very exciting growth phase. I believe I will be able to help the company successfully execute upon its business plan of becoming a large and successful restaurant holding company. I look forward to working with ARC Group’s team to grow our existing brands and acquire new and exciting brands that will contribute to our top and bottom line.”
*About ARC Group, Inc.*
ARC Group, Inc., headquartered in Jacksonville, Florida, is a holding company with a focus on the casual dining restaurant industry. ARC is the owner, operator and franchisor of Dick’s Wings & Grill^®, a family-oriented restaurant chain with locations in Florida and Georgia. Now in its 25^th year of operation, Dick’s Wings serves over 25,000 wings daily, and prides itself on its award-winning chicken wings, hog wings and duck wings spun in its signature sauces and seasonings. ARC operates four company-owned restaurants, three company-owned concession stands, and has 19 franchise locations. ARC also owns the Fat Patty’s^® concept, with four locations in West Virginia and Kentucky. Fat Patty’s offers a number of specialty burgers and sandwiches, wings, appetizers, salads, wraps, and steak and chicken dinners in a family friendly, casual dining environment.
*Safe Harbor Provision*
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the Company's future financial position, business strategy, plans and objectives, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 and its other filings and submissions with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.