press release
February 9, 2012
DEERFIELD, IL--(Marketwire - Feb 9, 2012) - Così, Inc. (NASDAQ: COSI), the fast casual restaurant company, and Brad Blum, owner of BLUM Growth Fund, today entered into an agreement for Blum to provide consulting services related to branding, product development, merchandising and marketing in a collaborative effort to maximize long-term shareholder value. This comes on the heels of Carin Stutz's appointment as the new President and CEO of Così, and is part of her aggressive plan to drive sales and profitability.
"We are pleased to have Brad join us as we accelerate our work already underway to build momentum and turn this strong brand into a profitable business," said Carin Stutz. "His broad knowledge and extensive experience in the restaurant industry, combined with his turnaround expertise and strong results in developing distinctive brands, will be invaluable as we execute our strategy to make Così a leading national fast casual brand."
In addition to founding BLUM Growth Fund and having consulted for other major restaurant companies, Mr. Blum previously served as chief executive of Olive Garden for eight years until 2003, and more recently served as chief executive officer at both Burger King and Romano's Macaroni Grill.
"I am pleased to partner with Carin and her team as she builds a culture to move this great concept forward," said Mr. Blum. As an investor, I recognized the unrealized potential of the Così brand and I believe there are positive steps being taken to reinvigorate the Così brand. Carin's leadership approach is impressive as is her identification of the key issues in the restaurants that she believes need to be addressed. Her progressive ideas, including having me lend support to the company, are much appreciated."
Mr. Blum has also announced a change in his Così shareholder status from activist shareholder to passive shareholder. BLUM Growth Fund holds 3.5 million shares of Così stock, currently representing a 6.8 percent ownership in the company.
"Carin is moving quickly to utilize every resource available to the company to quickly turn Così into a profitable business," said Stephen Edwards, Così's Executive Chairman. "I welcome the involvement of Mr. Blum as part of Carin's strategy."
About Così, Inc.
Così® (http://www.getCosi.com) is a national fast casual restaurant chain that has developed featured foods built around a secret, generations-old recipe for crackly-crust flatbread. This artisan flatbread is freshly baked in front of customers throughout the day in open-flame stone-hearth ovens prominently located in each of the restaurants. Così's warm and urbane atmosphere is geared towards its sophisticated, upscale, urban and suburban guests. There are currently 80 Company-owned and 56 franchise restaurants operating in seventeen states, the District of Columbia and the United Arab Emirates. The Così® vision is to become America's favorite fast casual restaurant by providing customers authentic, innovative, savory food while remaining an affordable luxury.
The Così® menu features flatbread sandwiches, freshly-tossed salads, breakfast wraps, melts, soups, Così® Squagels®, flatbread pizzas, S'mores, snacks and other desserts, and a wide range of coffee and coffee-based drinks and other specialty beverages. Così® restaurants are designed to be welcoming and comfortable with an eclectic environment. Così's sights, sounds, and spaces create a tasteful, relaxed ambience that provides a fresh and new dining experience.
"Così," "(Sun & Moon Design)" and related marks are registered trademarks of Così, Inc. in the U.S.A. and certain other countries. Copyright © 2012 Così, Inc. All rights reserved.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. This press release contains statements that constitute forward-looking statements under the federal securities laws. Forward-looking statements are statements about future events and expectations and not statements of historical fact. The words "believe," "may," "will," "should," "anticipate," "estimate," "expect," "intend," "objective," "seek," "plan," "strive," or similar words, or negatives of these words, identify forward-looking statements. We qualify any forward-looking statements entirely by these cautionary factors. Forward-looking statements are based on management's beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to management. Forward-looking statements involve risks and uncertainties that may cause our actual results, performance or financial condition to differ materially from the expectations of future results, performance or financial condition we express or imply in any forward-looking statements. Factors that could contribute to these differences include, but are not limited to: the cost of our principal food products and supply and delivery shortages and interruptions; labor shortages or increased labor costs; changes in demographic trends and consumer tastes and preferences, including changes resulting from concerns over nutritional or safety aspects of beef, poultry, produce, or other foods or the effects of food-borne illnesses, such as E. coli, "mad cow disease" and avian influenza or "bird flu"; competition in our markets, both in our business and in locating suitable restaurant sites; our operation and execution in new and existing markets; expansion into new markets including foreign markets; our ability to attract and retain qualified franchisees and our franchisees' ability to open restaurants on a timely basis; our ability to locate suitable restaurant sites in new and existing markets and negotiate acceptable lease terms; the rate of our internal growth and our ability to generate increased revenue from our existing restaurants; our ability to generate positive cash flow from existing and new restaurants; fluctuations in our quarterly results due to seasonality; increased government regulation and our ability to secure required government approvals and permits; our ability to create customer awareness of our restaurants in new markets; the reliability of our customer and market studies; cost effective and timely planning, design and build out of restaurants; our ability to recruit, train and retain qualified corporate and restaurant personnel and management; market saturation due to new restaurant openings; inadequate protection of our intellectual property; our ability to obtain additional capital and financing; adverse weather conditions which impact customer traffic at our restaurants; and adverse economic conditions. Further information regarding factors that could affect our results and the statements made herein are included in our filings with the Securities and Exchange Commission.
Additional information is available on Così's website at
http://www.getCosi.com in the investor relations section.
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press release
November 9, 2011, 9:55 a.m. EST
Winter Park, Fla. – November 9, 2011 – BLUM Growth Fund, activist shareholder in Cosi, Inc. (NASDAQ:Cosi), today announced the Cosi Board of Directors has again failed to respond to its shareholders.
Without a stated and compelling plan to address the company's problems, and after repeatedly disregarding several innovative and comprehensive proposals to achieve profitability and increase shareholder value, the Cosi Board of Directors has ignored a request from investors for a special shareholder meeting.
An official response from the Chairman of the Board was requested by November 8, 2011 and that date passed without any response, indicating the Board's reluctance to hear what is really on the minds of Cosi shareholders. It is yet another instance of the Cosi Board of Directors blatantly ignoring the profound concerns from its various shareholders, many of whom feel the situation at Cosi is much more dire than the lack of urgency demonstrated by the Board.
As part of an ongoing effort to drive positive changes at Cosi through a shareholder democracy initiative, BLUM Growth Fund provided the opportunity for shareholders to participate in a voluntary, non-legally binding survey advertised in the Wall Street Journal and Investor's Business Daily.
Shareholders revealed serious concerns through this survey over the past two weeks, as nearly 100 shareholder responses clearly demonstrate desperation for the Board of Directors to adopt a plan that would drive shareholder value. The overwhelmingly clear results of that survey were issued last week and are available on the BLUM Growth Fund website. They support a respectful request for the Cosi Board of Directors to exercise its power on behalf of shareholders and call a special shareholder meeting well before the annual shareholders meeting in May 2012.
Shareholders hoped the Board of Directors would address concerns regarding the company's imminent failure and the recent appointment of a new Board Director, Stephen Edwards. The appointment appears to be a result of the appointee's experience and past association with several Board Directors relating to the sale of a distressed restaurant company at a loss to its shareholders.
Howard Penney, noted restaurant security analyst and Managing Partner at Hedgeye Risk Management, recently wrote in his report entitled Cosi-Destruction in Deerfield, "I have been analyzing the restaurant industry for twenty years now and I have witnessed only a few other companies that have destroyed more shareholder value than Cosi."
The company is now in free fall with an interim CEO and Chairman without restaurant experience and/or restaurant turnaround experience.
Cosi has never made a profit with this Board of Directors in office. Instead, the company has accumulated a staggering loss of $57.8 million in the past five years, in excess of 140% of its current market capitalization, driving the stock price from $11.21 in March 2006 to a low of $0.56 cents on September 12, 2011.
Jonathon Heller of The Street recently wrote, "Indeed, I've had my doubts that the company can survive longer-term," after discussing present operations at Cosi. He also expressed optimism about the innovative proposal from BLUM Growth Fund in his recent article entitled Might Be Cosi's Last Chance.
BLUM Growth Fund has been clear with the Cosi Board of Directors. It has explained that there are three options.
Option #1, the Board of Directors immediately adopts the latest BLUM Growth Fund proposal dated October 12, 2011, that was filed with the SEC.
Part of the proposal, which contains several compromises and concessions, would retain three of the current Board Directors as official members of the Board, and the others would form an advisory group to the Board. Four new official Directors recommended by BLUM Growth Fund would join the new and refreshed Cosi Board of Directors. Each Board member would work for $1 in the first year. Brad Blum would serve as the chairman & CEO of Cosi, and he too would work for $1 salary.
In addition, and importantly, BLUM Growth Fund, along with outside investors, would provide $10 million as a backstop to a rights offering to current shareholders who have expressed a desire to invest more in the Cosi company, subject to and only if, the BLUM Growth Fund proposal is adopted. Otherwise, if the status quo continues, these shareholders have expressed no interest in investing and putting more of their money at risk.
Option #2 is that shareholders' desires are honored by having the Cosi Board of Directors call a special shareholder meeting as soon as possible, with the Board of Directors and BLUM Growth Fund each prepared to live with the results of such meeting. We strongly believe that the fiduciary responsibilities and duties of the Cosi Board of Directors mandates that such a special shareholder meeting be called.
Option #3 would be implemented if the Cosi Board of Directors rejects both Option #1 and Option #2. It would leave shareholders with its final option, which is to exercise their remaining rights. They would take any and all possible actions to achieve a positive result for Cosi to protect the investments of current shareholders and to create shareholder value.
"The Board of Directors has failed at every turn, managing to drive the Cosi stock price down until it is almost valueless, despite its position in the highest growth segment in the restaurant industry, where brands like Chipotle and Panera have achieved stock price growth of approximately +700% and +300%, respectively in the past three years," said Brad Blum, owner of BLUM Growth Fund. "Shareholders have thrown down the gauntlet and challenged the Board of Directors' failed actions and limited abilities and have made it clear, they will not support further destruction of Cosi."
In summary Blum added, "This whole matter is about one, and only one, thing: RESULTS. The Cosi Board of Directors now has an opportunity to do something good for the company they represent. The ball is in their court."
Cosi has recently announced its latest earnings call will be held Thursday, November 10 at 5pm ET. Registration information for the webcast conference call can be found at http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=131610&eventID=4216665. BLUM Growth Fund encourages shareholders to register for the call and to communicate their questions and concerns to the Board of Directors.
About BLUM Growth Fund
BLUM Growth Fund, LLC is a private entrepreneurial capital investments company that is part of BLUM Enterprises, LLC. Brad Blum is Founder and Owner of BLUM Enterprises, whose mission is to "Provide Good Food for the Planet." Based in Winter Park, Florida, and with offices in New York City, BLUM Enterprises is a progressive company dedicated to creating and operating highly profitable restaurant brands that focus on providing good food with exceptional flavor and responsible nutrition. The company also invests entrepreneurial capital and works closely with established restaurant brands to achieve outstanding profitability and shareholder value using this approach.
A Review of Actions to Date
The following describes Cosi's dire situation that has led shareholders to openly express a complete loss of confidence in the current Board of Directors and profound concern that Cosi will be subject to bankruptcy or buyout, losing all its value and the entire value of current shareholder investments in the company.
Cosi has never made a profit with this Board of Directors in office. Instead, the company has accumulated a staggering loss of $57.8 million in the past five years under this Board of Directors, in excess of 140% of its current market capitalization, driving the stock price from $11.21 in March 2006 to a low of $0.56 on September 12, 2011.
BLUM Growth Fund, LLC owns 3.5 million shares of Cosi stock, representing 6.8% of the company and has filed the required 13D notice with the SEC. Blum, its founder, is an experienced restaurant turnaround expert, having served as president of Olive Garden for 8 years, achieving 33 consecutive quarters of profitable same-restaurant sales increases and boosting average annual sales per restaurant from $2.4 million to $4.0 million.
He also served as Board Director for five years at Darden Restaurants, the largest casual dining restaurant company in the world. Mr. Blum later served as CEO and Board Director of Burger King Corporation and CEO, Board Director and part owner of Romano's Macaroni Grill, representing 10% of the company.
The Cosi Board of Directors ignored each of the three proposals officially submitted by BLUM Growth Fund. The last was filed with the SEC, and made public to shareholders.
The Board of Directors to date has not responded to the January and October proposals. The 23-page September proposal was apparently never reviewed by the entire Board of Directors prior to it being rejected out of hand.
The Board has chosen to further reduce the Cosi company's limited cash position by paying law firms to help prolong the tenure of the Board Directors and is currently retaining an executive search firm to identify CEO candidates, speaking to people inside the company and outside the company. Additionally, the Board has chosen to maintain each Director at their current level of compensation.
The Directors have recently appointed another member to the Cosi Board at an additional salary to the company, one who heads a private equity firm. In 2007, he worked with other current Cosi Board Directors to sell a distressed restaurant company at a low price, which caused its current shareholders to lose much of their investments.
The Board is looking to appoint additional Board Directors at additional salaries. The current Board has imposed staggered board elections, making a change in Directors more difficult. Shareholders have expressed concern that it seems no one is focused on running the company and turning around its operational performance.
The Board is presumably prepared to pay its next CEO a major salary, recognizing that the former CEO's compensation totaled $845,000 in the previous year, with more than $500,000 being paid in cash salary. The BLUM Growth Fund proposal alone could kickstart Cosi in the first year with savings of over one million dollars.
Blum added, "This Board seems to have adopted a 'bunker mentality' hiding behind the by-laws of the company, intended for the protection of the shareholders, not to entrench the tenure of this Board of Directors. They are out of touch with how to solve the business problems at Cosi, and they are wasting valuable money and time."
As of today (November 9, 2011), it has been 75 days since the NASDAQ notification of potential de-listing and 70 days since the former CEO resigned. The Board has been absent in announcing how it intends to solve these serious problems, and appears to be burning through the Cosi company's remaining limited cash at an alarming rate.
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press release
November 2, 2011, 1:58 p.m. EDT
WINTER PARK, Fla.--(BUSINESS WIRE)----BLUM Growth Fund, activist shareholder in Cosi, Inc. (NASDAQ: COSI), today announced it has received 95 shareholder responses from its survey taken over the past week. Nearly unanimous, the survey results and accompanying comments show overwhelming support for the BLUM Growth Fund plan for Cosi and overwhelming lack of confidence in the current Board of Directors to engage the right CEO for Cosi to lead the brand to short and long term profitability.
Noted restaurant turnaround executive and owner of BLUM Growth Fund, Brad Blum, has publicly called for the board to take action to protect shareholder investments and restore lost value, evidenced by the consistently declining stock price of Cosi. To no avail, there have been numerous offers from BLUM Growth Fund to meet with the current Board of Directors to have them respond to various serious and comprehensive proposals designed to create shareholder value.
Since all these opportunities were ignored by the Board of Directors, BLUM Growth Fund offered a forum for shareholders to express their opinions in an effort to exercise "shareholder democracy." It is noted that "shareholder democracy" is very different from a proxy fight, which is expensive and time consuming. Rather, it is a new and innovative way for shareholders to communicate their genuine feedback directly to the Cosi Board of Directors in a timely manner.
"We did not know the nature of the responses we would receive," said Blum. "The responses were overwhelmingly and emphatically clear indicating a lack of confidence in the current Board of Directors and their desire to implement the BLUM Growth Fund plan, as provided to the Cosi Board and the public. We remain hopeful that, with this latest information, the Board would now be willing to meet and discuss how best to improve company performance and greatly increase shareholder value, and to do so on a timely basis."
Absent a positive meeting with the Board of Directors and in light of these shareholder democracy survey results, BLUM Growth Fund feels it will be necessary to call for a special shareholder meeting to elect new leadership and new Board Directors at Cosi, as recommended by the BLUM Growth Fund plan, officially submitted to the Board of Directors dated October 12, 2011. A number of shareholders see this as necessary to drive Cosi in a dramatically new and positive direction.
Cosi governance allows for this type of special election if granted by the Board of Directors. BLUM Growth Fund would respectfully request a special meeting of shareholders be called for by the Cosi Board of Directors no later than Tuesday, November 8, 2011.
The survey enabled current Cosi shareholders to share their opinion on five questions and submit comments. Results of the survey show strong alignment between BLUM Growth Fund's proposals and shareholder desires and concerns.
"The Board seems to be delaying the inevitable, costing Cosi valuable time and wasting money with its limited remaining cash position," said Blum. "The shareholders who responded to the survey agree." "No shareholder has endorsed the current Board of Directors or feels confident in the fate of Cosi if left in their hands," said Howard Penney, a leading restaurant security analyst and Managing Partner at Hedgeye Risk Management.
Eric Kuby, Chief Investment Officer at Northstar Investment Corporation in Chicago, who owns approximately one million shares, added, "We want shareholder democracy to prevail at Cosi. We believe that the BLUM Growth Fund plan is a good solution. Based on his past track record of results, we would like Brad Blum to be the chairman and CEO of Cosi. We are surprised that the Board hasn't eagerly embraced his offer, since he seems to be exactly what the doctor ordered."
SURVEY RESULTS are as follows:
Q: As a Cosi Shareholder, do you have the confidence that management can make the right decisions and find the right person to be the new CEO?
Yes 2_ No 93
Q: As a Cosi Shareholder, are you proud of the company's financial performance, especially compared to other major fast casual restaurants?
Yes 0_ No 82
Q: As a Cosi Shareholder, are you happy with your investment and the current stock price?
Yes 0_ No 81
Q: As a Cosi Shareholder, are you confident in the future of the company with the current Board of Directors?
Yes 0_ No 80
Q: As a Cosi Shareholder, would you like a new CEO and Board of Directors who have communicated a plan to make the company profitable and who can create significant shareholder value?
Yes 70 _No 2
A snapshot of shareholder comments:
The current board seems to have no interest in providing shareholders any value for their investment. The market shows no respect for current management and how they run the company. I think there is so much potential in this brand and I hope it will be realized, but I am losing faith.
- James C. Clark
With the proper management Cosi should be rolling. There is no reason Cosi couldn't be in the same league or better than Panera. Streamline operations, pursue a strategy of smart growth, and bring in a CEO with a proven track record of success in the restaurant industry. Brad Blum has my vote.
- Chas Kirsch
I have already stated my concern to Cosi via their website (to which I received no response) and indicated my support for your original message to their board. My shares have lost approximately 90% of their value since I first bought in March of '07. I am thoroughly discouraged with the performance of the company and welcome any actions which would result in improved operations and a return of at least a portion of shareholder's investments.
- Tom Cagle
We have owned Cosi since Sept 2005. We keep waiting for them to make a profit. Every quarter they tell us the same thing; things are getting better in some areas but the bottom line is they keep losing money. It's gotten so bad that we have been hoping that for one quarter they would just break even. Obviously this group is never going to solve the problems and Cosi will gradually fade away unless some new people with new ideas take over. Otherwise, it will be more of the same.
- Philip & Carol Passer
Not happy with this new addition to the board that has mainly investment background. Why not more operations oriented individual?
- Al Wolstein
I fully support the initiative of Brad Blum and feel his track record shows that he is the right man to lead Cosi. The current management has shown that they are incapable of running the company successfully.
- Professional Investor & Trader
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press release
October 26, 2011, 12:33 p.m. EDT
WINTER PARK, Fla.--(BUSINESS WIRE)----BLUM Growth Fund, LLC, activist shareholder in Cosi, Inc. (NASDAQ: COSI), today announced it has placed advertising in both the Wall Street Journal and Investor's Business Daily this week that calls for shareholder input regarding the current state of the business at Cosi, Inc. This is the latest move by BLUM Growth Fund and its owner, Brad Blum, to drive the Board of Directors to implement a successful set of strategies for Cosi or step aside and allow new leadership to take the helm and achieve positive results.
Over the past several months Blum has offered specific strategies for the struggling chain to reverse its downward spiral and take its place with other well-performing, unique concepts in the high growth, fast casual restaurant segment. To date, the current Board of Directors has rejected or ignored any suggestions while Cosi continues to lose value.
Blum has offered to serve as CEO for the brand at a salary of $1 for the first year, with the stated goal of recouping the value of shareholder investments that Cosi's position and potential have shown. Results would be achieved through a restructure of the Board of Directors, and a new plan for Cosi that focuses on a more differentiated, simplified and higher quality menu, better operations and improved cost controls.
In addition to an invitation for shareholders to contact chairman and interim CEO Mark Demilio directly, the BLUM Growth Fund advertisement calls for shareholders to voice their opinion on the BLUM Growth Fund website in the following ballot-style form found at www.blumgrowthfund.com.
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press release
Sept. 27, 2011, 12:01 p.m. EDT
WINTER PARK, Fla., Sep 27, 2011 (BUSINESS WIRE) -- BLUM Growth Fund, LLC today announced it is leading an effort to SIGNIFICANTLY improve company performance and GREATLY increase shareholder value at Cosi /quotes/zigman/89355/quotes/nls/cosi COSI -1.33% .
The BLUM Growth Fund proposal calls for a NEW BOARD OF DIRECTORS with proven ability to lead the company to strong profitability. On September 15th, BLUM Growth Fund filed form 13D with the Securities and Exchange Commission (SEC), indicating it has increased its ownership position in Cosi to nearly 7%.
BLUM Growth Fund maintains shareholder concerns center around the company's poor performance under a long tenured board that can claim few successes. In its 9-year history as a public company, Cosi has never turned a profit and the company has endured a 95 percent reduction in stock price under 4 out of the 5 current board of directors. Shares were listed at $11.21 per share in March of 2006, and have been listed as low as $0.56 on September 12th of this year.
These issues culminated in the recent notification from NASDAQ that the stock is in danger of being delisted. The Cosi board of directors also recently accepted the resignation of former CEO James Hyatt. The current chairman of the board, Mark Demilio, assumed the position as interim CEO. Demilio has no prior restaurant or restaurant turnaround experience.
"Cosi is a publicly traded company. In the interest of protecting the investment of all involved, we must recommend a change in the board of directors, a change in philosophy and a new leadership focus," said Brad Blum, founder and CEO for BLUM Growth Fund. "We call upon all shareholders to join us in our efforts to effect positive change at Cosi and participate in a non-legally binding expression of 'no confidence' for the current board. This is not a proxy fight or a hostile takeover, but an exercise in shareholder democracy."
Blum has led the successful turnaround of several major restaurant brands, serving as chief executive of Olive Garden for eight years. He orchestrated a thorough transformation of the brand, with 33 consecutive quarters of same-restaurant sales increases, and increased profitability by hundreds of millions of dollars per year. During his tenure as CEO of Burger King, profits doubled in the first year. He and his team turned same-restaurant sales positive by introducing a new $1 billion product, setting the stage for a record-breaking IPO.
Restaurant industry analyst Howard Penney, managing director at Hedgeye Risk Management said, "Blum has extensive restaurant experience and abilities, including turnaround successes which require a very specific skill set. Blum's leadership is the ideal solution for this struggling company. He knows how to get results, in the short term and in the long term."
Blum has now offered to serve as chairman and CEO of Cosi at a salary of $1 for his first year. Blum would leverage his experience on behalf of the company, including his ability to raise capital and "patient money" to help stimulate the performance of Cosi. This should enable Cosi to attract a new board of directors, selected from industry leaders and experts. It is anticipated that a NEW BOARD OF DIRECTORS would also be paid $1 salary for their first year of service.
BLUM Growth Fund feels it is essential to the health of the Cosi business to have an active, results-driven, engaged board of directors working with and challenging a strong, experienced and talented CEO. Blum maintains its proposal is a comprehensive plan that addresses missed opportunities and provides a democratization process for all shareholders, ensuring shareholders get full information and have a voice during this crisis.
Cosi competes in the emerging, HIGH GROWTH SEGMENT of the restaurant industry -- Fast Casual. Despite the market potential, Cosi has lost significant value while key segment competitors Panera and Chipotle, continue to increase their value, demonstrating an enormous missed opportunity for Cosi.
"Cosi has a strong brand DNA that originated in Paris and has a loyal, passionate customer base," said Blum. "The quality of the people and the quality of the food are the two things that determine how great a restaurant company will be. It is time for new leadership to take swift and smart action to bring more relevance to Cosi, refresh the brand, get the company turned in the right direction and fulfill its enormous potential."
"The first order of business at Cosi would be to increase profitability by increasing guest satisfaction and sales," said Blum. "It will take innovation, operational excellence and strict cost controls to achieve superior financial results and increase shareholder value."
Blum requests interested Cosi shareholders express their lack of confidence in the present Board of Directors and comment on its inability to successfully lead the company (or confidence in the Board, if comfortable with business as usual).
"We believe Cosi board members need to hear the honest views of company shareholders or in all likelihood the board and the company will continue on its current course," said Blum.
About BLUM Growth Fund
BLUM Growth Fund, LLC is a private entrepreneurial capital investments company that is part of BLUM Enterprises, LLC. Brad Blum is Founder and Owner of BLUM Enterprises, whose mission is to "Provide Good Food for the Planet." Based in Winter Park, Florida, and with offices in New York City, BLUM Enterprises is a progressive company dedicated to creating and operating highly profitable restaurant brands that focus on providing good food with exceptional flavor and responsible nutrition. The company also invests entrepreneurial capital and works closely with established restaurant brands to achieve outstanding profitability and shareholder value using this approach.
SOURCE: BLUM Growth Fund, LLC
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