Captain D's Seafood Embarks On Aggressive Expansion Plan

NASHVILLE, TENNESSEE (Thursday, March 01, 2001) - With the popularity of its restaurants and consumer interest in "fast-casual" dining options at all time highs, Captain D's Seafood announced that the company is embarking on the most aggressive expansion effort in its 32-year history.
The expansion, which will significantly increase the number of both franchised and company-owned restaurants, will also result in approximately two-thirds of the company's restaurants being operated by franchisees, up from approximately one-third today.

Captain D's decision to expand is fueled in part by the company's success over the past few years. It has posted record sales increases in seven out of last eight years, and two Captain D's locations now boast more than $2 million in annual sales, a company milestone.

The company is also buoyed by consumer acceptance of a new restaurant prototype it introduced in mid-1999, which recreates the allure of a wharf-side seafood shack. Same-store sales at remodeled units increased as much as 30 percent last year, well above the company's average same-store sales increase. All new franchise and company-owned Captain D's restaurants will be built to the new specifications.

In addition, the Nashville, Tenn.-based company hopes to take advantage of growing interest in "fast-casual" dining options: Concepts that provide consumers with a more relaxed, "stay awhile" atmosphere compared with typical fast-food restaurants, while still satisfying their desire for fresh food prepared quickly. Captain D's was among the first restaurant companies to embrace this approach.

Captain D's will continue to expand in the Midwest and Southeast, where the company already enjoys 90 percent brand recognition, as well as explore opportunities in other markets. Both new and existing markets for the company will be targeted, among them: Little Rock, Ark.; Atlanta; Charlotte, Greenville, Greensboro and Raleigh-Durham, N.C.; Charleston and Columbia, S.C.; Chattanooga, Knoxville and Memphis, Tenn.; Houston; Denver; Indianapolis; St. Louis; and all major Florida cities.

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