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BLUM Enterprises' new strategic partnership with Ruby Tuesday
BLUM Enterprises, LLC Focuses on Building Powerful Brands in the Restaurant Industry.
September 18, 2005
WINTER PARK, Fla., Sept 19, 2005 /PRNewswire-FirstCall via COMTEX/ -- Brad Blum, a top restaurant executive, today announced the formation of a new company, BLUM Enterprises, LLC, that offers two distinct areas of expertise in the restaurant industry -- enhancing the brand value of established restaurant companies to accelerate business performance and successfully developing new entrepreneurial restaurant concepts into strong, sustainable businesses. Mr. Blum also announced BLUM Enterprises' new strategic partnership with Ruby Tuesday, Inc. (RI), a major player in the bar-and-grill segment of casual dining in the restaurant industry
BLUM Enterprises builds long-term strategic partnerships with a select group of restaurant companies of scale, working closely with founders/CEOs and their respective teams to fully realize the power of their brands in the marketplace. BLUM Enterprises also develops business partnerships with gifted entrepreneurs to grow new restaurant concepts into strong, compelling brands that become highly profitable businesses of scale.
"I love the restaurant business -- throughout my career I have always enjoyed the thrill of unleashing a brand's potential and enabling people to tap into their entrepreneurial spirit to achieve extraordinary results," said Brad Blum. "I am approaching BLUM Enterprises with enormous enthusiasm, as we look forward to working closely with talented leaders and restaurant teams on meaningful projects to build the business," Blum added.
The initial focus of the Ruby Tuesday partnership will be on brand positioning, menu development, building designs, marketing and advertising; longer-term projects will include a strategy and plans for the Ruby Tuesday of tomorrow.
Brad Blum, founder and CEO of BLUM Enterprises, will work closely with Sandy Beall, founder, chairman and CEO of Ruby Tuesday, and his team, to further differentiate Ruby Tuesday as a brand, drive same-restaurant sales increases and create shareholder value.
Under the agreement, BLUM Enterprises will also provide leadership to the marketing department by overseeing key day-to-day activities such as: advertising, media schedules, promotional plans and other innovative programs. BLUM Enterprises will establish strategies to ensure that newly developed marketing programs are integrated and well executed within the various operating disciplines.
"I am excited to partner with Brad to help us move as quickly as possible in elevating our branding and marketing efforts to match those of our operations," said Sandy Beall. "He has a proven track record of building strong brands in the restaurant industry and we believe BLUM Enterprises will help us make improvements to the business that will benefit our guests, employees and shareholders," Beall added.
"It is a great opportunity to work with an industry leader like Sandy Beall who founded Ruby Tuesday 33 years ago and has built it into a business that is approaching annual system-wide sales of $2 billion," said Brad Blum. "There is tremendous potential in further differentiating and unleashing the power of the Ruby Tuesday brand, and I look forward to working closely with Sandy and his entire team," Blum said.
An experienced veteran of the restaurant industry, Blum has focused his career on creating, re-positioning and building brands to their full potential. He has previously served as CEO of Burger King, the second largest burger chain in the world; Vice Chairman of Darden Restaurants, the largest casual dining restaurant company in the world; President of Olive Garden, the most successful turnaround of a large casual dining restaurant brand that today averages $4.4 million in annual sales per restaurant; and a top marketing executive at General Mills, both domestically and internationally, where his accomplishments include the successful start-up of Cereal Partners Worldwide (CPW) located in Switzerland, a 50/50 joint venture with Nestle, the largest food company in the world.
Blum is well known throughout the casual dining and quick service segments of the industry for his ability to create growth, turnaround companies and brands, and achieve consistent outstanding financial performance. He has received numerous business accolades including being elected the 2000 MUFSO Operator of the Year, one of the highest honors in the restaurant industry.
"I have worked closely with Brad over the years, and I have every confidence that this will be a very successful enterprise," said Malcolm Knapp, President of Malcolm M. Knapp, Inc., a leading advisor to the restaurant industry. "Brad combines two qualities that make him unique. One is the ability to conceptualize core brand equities that have sustainable resonance with consumers, and the other is the organizational skill to create and lead teams to consistently implement strategies that result in excellent long-term profit growth," Knapp added.
About BLUM Enterprises, LLC
BLUM Enterprises, LLC, based in Winter Park, Florida, builds long-term strategic partnerships with a select group of restaurant companies of scale, working closely with founders/CEOs and their respective teams to unleash the power of their brands and create shareholder value. BLUM Enterprises also develops business partnerships with gifted entrepreneurs to grow new restaurant concepts into strong, compelling brands that become highly profitable businesses of scale. Brad Blum is founder and CEO.
About Ruby Tuesday, Inc.
Ruby Tuesday, Inc., a restaurant industry leader in the bar-and-grill segment of casual dining, is known for flavorful food in a fun and friendly atmosphere. The Company, headquartered in Maryville, Tennessee, owns, operates and franchises more than 800 restaurants worldwide. Sandy Beall is founder, chairman and CEO.
Press Contact:Abigale Knapp T: 917-774-4802 E: AbigaleKnapp@mac.com SOURCE BLUM EnterprisesRelated Media
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