Appoints Rick Akam as Chief Brand Officer and President of the Dick's Wings & Grill Restaurant Franchise
JACKSONVILLE, FL / ACCESSWIRE / November 12, 2019 / ARC Group, Inc. (OTCQB:RLLY) ("ARC Group"), a restaurant holding company with a focus on diversified, full-service restaurant brands, today announced the appointment of Joseph J. Dominiak as Chief Operating Officer. Rick Akam, who previously served as Chief Operating Officer, has been appointed Chief Brand Officer and President of the Dick's Wings & Grill® restaurant franchise.
Mr. Dominiak previously served as Chief Operating Officer for Buffalo Wings and Rings, a club-level sports restaurant franchise with 57 restaurants located in the U.S. and 26 restaurants located in other countries, where he had P&L accountabilities of $350 million and was responsible for franchise and company operations, franchisee selection and development, purchasing, real estate and construction, human resources and marketing. During his tenure there, he helped reverse negative same store sales trends, closed underperforming units and opened new locations, resulting in increased efficiencies, improved franchisee satisfaction and a significant reduction in overhead.
Prior to that, Mr. Dominiak served as the Executive Vice President of Operations and Managing Partner for Skyline Chili, a restaurant franchise specializing in chili with more than 180 restaurants located in 4 states. There, he helped lead a brand transformation that resulted in the first positive unit growth in 18 years, 25 consecutive quarters of same store sales growth, and an average of 5 new unit openings per year. He also oversaw initiatives to improve employee retention and implemented a new menu platform that delivered five consecutive years of double-digit year-over-year revenue increases for 5 consecutive years with significant increases in overall profitability.
During his career, Mr. Dominiak has also served as Chief Operating Officer for Camp Bow Wow Corporation, a national dog-boarding company, and Vice President of Operations and Chief Operating Officer for Miracle Restaurant Group, a national franchisee of Arby's and Dunkin' Donuts restaurants, and held senior roles at Yum Brands/Taco Bell. He also serves as the Chairman of the Board of Trustees for the Children's Home of Cincinnati and as a member of the Board of Directors for the Boys and Girls Club of West Chester, and served as a Captain in the United States Air Force.
Seenu G. Kasturi, CEO of ARC Group, stated, "We are pleased to welcome Joe to the senior management team of ARC Group. He is a seasoned industry professional with a track record of success, driving top line growth, including same store sales, as well as improving profitability. As COO, Joe will oversee all of our brands and operations. His background is perfectly aligned with our mission at ARC to acquire undervalued and underperforming restaurant chains and franchises and improve their operations and profitability to create shareholder value."
"I am very excited to join ARC's team," stated Joseph Dominiak. "ARC already has several leading brands with significant opportunities for improvement and strong growth potential, as well as aggressive plans to acquire additional brands. I look forward to applying the years of experience that I have acquired in the restaurant industry to help Seenu and his team successfully grow ARC Group into a preeminent restaurant holding company."
In connection with the appointment of Mr. Dominiak as COO of the company, Rick Akam assumed the new role of Chief Brand Officer and President of the Dick's Wings & Grill restaurant franchise. These appointments, including the company's recent addition of Alex Andre as CFO and General Counsel, reflect the important steps the company is taking to enhance and solidify its senior management team. With its recent acquisition of WingHouse Bar and Grill®, ARC Group has now surpassed $70 million in annualized revenue.
About ARC Group, Inc.
ARC Group, Inc., headquartered in Jacksonville, Florida, is a holding company with a focus on the casual dining restaurant industry. ARC is the owner, operator and franchisor of Dick's Wings & Grill®, a family-oriented restaurant franchise with four company-owned and 16 franchised restaurants located in Florida and Georgia that is now in its 25th year of operations. ARC also owns the Fat Patty's® concept with four restaurants located in West Virginia and Kentucky, and recently acquired the WingHouse Bar and Grill restaurant concept with 24 company-owned restaurants located in Florida.
Safe Harbor Provision
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the Company's future financial position, business strategy, plans and objectives, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 and its other filings and submissions with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.
Contact:
Crescendo Communications, LLC
Email: arck@crescendo-ir.com
Tel: 212-671-1020
SOURCE: ARC Group, Inc.
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