Veteran Mcdonald's Franchisees Say Goodbye To Ronald And Hello To Moe

Brother Team Revamps Business Portfolio with 16 Moe's in Florida and Texas

(Thursday, October 21, 2004) - Ray and Mike Eddy entered McDonald's franchising when the sign by the golden arches only said "millions served." It was 1969 when they began building their McDonald's franchising empire that reached as many as 67 restaurants before selling them and establishing a more current portfolio, leading with the nation's hottest fast casual Tex Mex concept, Moe's Southwest Grill.

Partnering with Bob Tenley to open their first Moe's in Las Colinas, Texas, the Eddy's plan to open 10 locations in Dallas in the next two years. Simultaneously, they are moving aggressively into Austin with three stores and Daytona Beach with three stores.

"It's great for the brand to have such seasoned franchisees like Ray and Mike. They have evolved from one of the best franchising concepts in the world," explains Matt Andrew, Vice President, Raving Brands. "The fact that they chose Moe's over other competitive, established brands reflects positively on the growing momentum and strength of our Moe's brand, which we see as the category leader given our number of stores opened and in development."

In 2004, Moe's expects to have opened more than 100 new stores, a faster pace than anyone in the category as well as having more than 750 franchises signed. Collectively the Raving Brands concept sees itself as an 850-store concept at this moment with plans to hit 2000 by 2008.

"We love everything about Moe's. Its food, its experience and the Raving Brands franchising system is a much different experience than we grew up with during the last 35 years," explains Ray Eddy, a principal with The Eddy Corporation.

"Martin Sprock's philosophy of owning one store per brand is refreshing," says Mike Eddy, a principal with The Eddy Corporation. "He uses it as an incubator to sharpen the concept versus running in the same direction as the franchisee to develop and compete for real estate and community."

Appealing to a more health-conscious public, Moe's food is prepared fresh daily. There are no freezers or microwaves at any of the locations. Moe's offers burritos, tacos, quesadillas and salads with a choice of grilled tofu, chicken, turkey or steak. Moe's also offers vegetarian items, a kid's menu and adult beverages.

About Moe's Southwest Grill
Moe's Southwest Grill offers fun, fresh, southwest cuisine with a healthy twist. The Atlanta-based company was founded by Martin Sprock in December 2000 and currently has 166 restaurants in operation and an additional 750 more franchise units scheduled for 38 states. Greeted with a trademark "Welcome to Moe's" cheer that sets the tone for a lighthearted experience in each store, Moe's is part of Raving Brands which also franchises Mama Fu's, Planet Smoothie, PJ's Coffee and soon to open, Doc Green's Gourmet Salads. This year Moe's has recorded a number of distinctions throughout the industry as well as within the Atlanta market which is home to some of the largest, longest-standing restaurant companies in the country.

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