SOURCE: BBX Capital Corporation

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November 14, 2016 08:00 ET

BBX Capital Names New Vice President of Operations to oversee MOD Pizza Franchise in Florida

FORT LAUDERDALE, FL--(Marketwired - November 14, 2016) - BBX Capital (NYSE: BBX) is pleased to announce that it has named seasoned restaurant veteran Brick Kerge as Vice President of Operations for their MOD Pizza ("MOD") Franchise in Florida. BBX Capital recently announced they joined MOD's growing family of select franchisees and created a new division with the goal of developing up to 50 MOD locations throughout central and southern Florida over the next five to seven years, including the major metropolitan markets of Miami, Fort Lauderdale, West Palm Beach, Orlando and Tampa.

"We are pleased to welcome Brick to our organization," commented Jarett Levan, President of BBX Capital. "Brick shares our passion for MOD's strong brand, people-first culture, and best-in-class customer service. Most importantly, Brick is a proven leader and well-respected restaurant operator and his strong leadership, growth management and restaurant industry experience will add tremendous value as we build a solid foundation to open our MOD locations throughout Florida."

Kerge comes to BBX Capital with over 28 years of restaurant experience and was most recently Market Partner for Texas Roadhouse where he oversaw 12 restaurants in Maryland and Illinois. Prior to that he was Regional Vice President for Red Robin Gourmet Burgers and was responsible for opening more than 75 new restaurant locations for them from Maine to Florida. He was also a District Manager for Lonestar Steakhouse and Saloon and oversaw 25 locations. Kerge started his career as an Executive Chef for Stouffer Hotels and Restaurants.

MOD, the rapidly expanding pioneer of fast casual pizza, currently has over 165 locations across 18 states and the United Kingdom. Founded by entrepreneurs Scott and Ally Svenson, MOD was inspired by the couple's love of Italian street-style pizza, their desire for authentic, affordable and fast dining options for their busy family and the idea that a great company could be built around people. The Svensons bring their experience from building two highly successful concepts -- Seattle Coffee Company and Carluccio's. MOD's team of advisors and executives bring experience from iconic brands such as Starbucks, Apple, Disney, McDonald's, Dunkin Donuts, and T-Mobile.

About MOD:
A pioneer of the fast casual pizza segment, MOD Pizza was founded in Seattle in 2008 by entrepreneurs Scott and Ally Svenson. MOD's individual artisan-style pizzas and salads are made on demand, letting customers choose whatever they like from over 30 toppings, all for one set price. At the core of MOD is a purpose-led culture that's committed to being a force for good in the community -- creating not only a cool place to eat, but an inspired place to work. MOD was recently ranked as America's fastest growing chain restaurant by Technomic; earned a spot on the Inc. 500 list as one of American's fastest-growing private companies in 2016; and was recognized by Fortune as one of the 20 best workplaces in retail for its progressive hiring practices and career-growth opportunities. MOD has over 165 locations across 18 states and the U.K. To learn more, visit modpizza.com.

About BBX Capital Corporation:
BBX Capital (NYSE: BBX) is involved in the acquisition, ownership and management of joint ventures and investments in real estate and real estate development projects, as well as acquisitions, investments and management of middle market operating businesses. In addition, BBX Capital and its controlling shareholder, BFC Financial Corporation (OTCQB: BFCF), have a 46% and 54% respective ownership interest in Bluegreen Corporation. As a result of their ownership interests, BBX Capital and BFC together own 100% of Bluegreen. As of September 30, 2016, BBX Capital had total consolidated assets of $407.2 million, shareholders' equity attributable to BBX Capital of $356.1 million, and total consolidated equity of $358.0 million. BBX Capital's book value per share at September 30, 2016 was $21.43. For more information, visit www.BBXCapital.com.

This press release contains forward-looking statements by BBX Capital based on current expectations that involve a number of risks and uncertainties. All opinions, projections, future plans or statements other than statements of historical fact, are forward-looking statements and there is no assurance that such expectations will prove to be correct. When considering forward-looking statements, the reader should keep in mind the risks and uncertainties, including, but not limited to: the risk that BBX will not be successful in achieving its goal of developing MOD locations; risks associated with the development and operation of the locations; and the risk that the locations may not be successful and that BBX may not achieve the returns anticipated. In addition to the risks and factors identified above, reference is also made to other risks and factors detailed in BBX Capital's Annual Report on Form 10-K, for the year ended December 31, 2015.

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