Bob's Discount Furniture Inc (BOBS)

Description:

Brazil Fast Food Corp was incorporated in the State of Delaware on September 16, 1992. The Company operates, directly and through franchisees, a fast food hamburger restaurant chain in Brazil under the trade name Bob's. All points of sale serve a uniform menu of hamburgers, cheeseburgers, chicken burgers, sandwiches, French fries, soft drinks, juices, desserts, ice creams and milkshakes. Selected points of sale also serve coffee and/or beer. They are generally open all year round, seven days a week. Its points of sale generally open at 10:00 a.m. closing hours vary according to location. In some locations with proximity to late night entertainment, the points of sale remain open for the 'after hours' crowd. In December 2006, it set up a holding company in Brazil, called BFFC do Brasil Participações Ltda. (BFFC do Brasil, former 22N Participacoes Ltda.), via the capital contribution of the equity interest it held in Venbo Comercio de Alimentos Ltda. (Venbo). Following this restructuring, all of its businesses in Brazil were consolidated through this new holding, and Venbo started to conduct its business through three main divisions: fast food restaurants, franchises and real estate. During October 2008, the Company reached an agreement with Doggis, one of the fast-food leaders in Chile, operating hot dog chain with 150 stores in that country. As per such agreement, BFFC do Brasil would develop own and franchised hot-dog stores in Brazil and Doggis would develop Bob's brand stores in Chile. This business would be operated in a Master Franchise concept, with a company created in Brazil (DGS) and another company in Chile. During the first quarter of 2007, the Company reached an agreement with Yum! Brands, owner of the KFC brand. By this agreement, BFFC do Brasil started to conduct the operations of KFC's four directly owned and operated restaurants in Rio de Janeiro as a Yum! Brands' franchisee. In order to operate the KFC brand in Brazil, the Company, through BFFC do Brasil, established a new subsidiary, named CFK Comércio de Alimentos Ltda. (CFK, formerly Clematis Industria e Comercio de Alimentos e Participacoes Ltda.), which is responsible for managing, developing and expanding KFC's chain in Brazil. On August 5, 2008 the Company, through its wholly-owned holding subsidiary, BFFC do Brasil, signed an agreement with a North-American company, RCI -Restaurants Connection International Inc (RCI), for the acquisition of 60% of its Brazilian subsidiary, IRB - Internacional Restaurantes do Brasil (IRB). IRB operates 14 restaurants in the city of Sao Paulo - Brazil, as a franchisee of Pizza Hut (another Yum!'s brand). The Company through its advertising agency develops a multi-media marketing program to advertise its restaurant network in its main markets. It usually employs television, radio, outdoors, and promotional campaigns to advertise its products; and it develop 15 and 30-second television commercials, which, typically, are aired one to six times a day for a 15-day period. It purchases food products, packaging, equipment and other goods from numerous independent suppliers. The Company competes with other organizations mainly through the quality, variety, and value perception of food products offered. It is subject to diverse federal, state and local regulations.