SOURCE: The Grilled Cheese Truck, Inc.

The Grilled Cheese Truck, Inc.

October 19, 2015 08:30 ET

The Grilled Cheese Truck Executes Letter of Intent to Acquire Southern California-Based Lobos Truck

Agreement Validates Company's National Brand Consolidation Strategy

FT. LAUDERDALE, FL--(Marketwired - October 19, 2015) - The Grilled Cheese Truck, Inc. (OTCQB: GRLD), an emerging growth public company capitalizing on opportunities within the burgeoning gourmet food truck industry, announced it has executed a Letter of Intent to acquire The SeaWolf Group LLC, doing business as The Lobos Truck, an operator of gourmet comfort food trucks in Southern California. The acquisition is subject due diligence and other customary conditions.

The prospective acquisition The Lobos Truck is part of a previously announced national brand consolidation strategy for The Grilled Cheese Truck. Previously, on August 13, 2015, the Company announced the acquisition of the Master Franchise Rights to the iconic brand The Original Soup Man. In addition, the Company has previously announced Letters of Intent to acquire a number of franchise-owned Ruby’s Diners.

“Upon the closing of the acquisition of The Lobos Truck, along with the recently announced Ruby’s Diner acquisitions and Master Franchise agreement with the Original Soupman, the Company has the potential to materially increase the Company’s revenue and profitability,” said Robert Lee, Executive Chairman of the Company.

About the Grilled Cheese Truck, Inc.

The Grilled Cheese Truck, Inc. is an American entrepreneurial “emerging growth” company with a brand and menu that is widely followed within the gourmet food truck space. The Company currently operates and licenses grilled cheese food trucks in the Los Angeles, Tacoma and Phoenix areas and is rolling out into additional markets with the goal of becoming one of the first -- and largest -- national operators in the gourmet food truck industry. The Company is working to consolidate the gourmet food truck space with an aggressive strategic growth plan that includes significant and accretive acquisitions of both existing well-established gourmet food truck brands and brick and mortar restaurants that can service the trucks. The Grilled Cheese Truck’s food truck offerings can be found at stadiums, military bases, universities, casinos and related venues, festivals, motorsports, action sports, team sports, large outdoor events/concerns, large churches and schools. The Company intends to franchise its gourmet food trucks to veterans, having invested significant time and resources over the past two years to develop a business model that creates jobs, business opportunities and support for veterans. For more information about The Grilled Cheese Truck, Inc., please visit http://www.thegrilledcheesetruck.com.

Forward-Looking Statements

Statements in this press release and of the management or representatives of The Grilled Cheese Truck, Inc. (the “Company”) in connection therewith that relate to beliefs, plans, objectives, goals, expectations, anticipations, intentions and future financial condition, results of operations or business performance constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on management’s current expectations about future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts, and by words such as “may”, “could”, “should”, “would”, “believe”, “expect”, “project”, “anticipate”, “estimate”, “intend”, “plan” or other similar words of expressions. Any or all of the forward-looking statements in this press release may turn out to be inaccurate or wrong. This can occur as a result of inaccurate assumptions or as a consequence of significant known or unknown risks or uncertainties. The Company addresses these risks in the “Risk Factors” section of its filings with the SEC. Because of these risks and uncertainties, the Company’s actual results may differ materially from those that might be anticipated from its forward-looking statements. Therefore, you are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Contact Information

  • For The Grilled Cheese Truck:
    Robbie Lee
    Executive Chairman
    646.588.8300