Los Angeles, March 5, 2015 (GLOBE NEWSWIRE) -- Giggles N' Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, hired John Kaufman, former Vice President of Operations of California Pizza Kitchen (CPK), as its new interim president.
While at CPK, Kaufman worked alongside Philip Gay who was the CFO, and currently serves as chief business development officer of Giggles N' Hugs. Together with the founders of CPK, Kaufman and Gay laid the foundation and grew the company from one location to more than 70 locations when he left the company after its sale to Pepsi co.
After his success at CPK, Kaufman was recruited by Lee Iacocca Chairman of Koo Koo Roo and former Chairman and CEO of the Chrysler Company, to lead operations as president and COO of Koo Koo Roo, one of the fastest growing healthy casual restaurant concepts. In less than three years, Kaufman and the Koo Koo Roo team opened an additional 20 locations, bringing the total to 45, and turned the company from cash flow negative to cash flow positive by focusing resources on the core brand, increasing performance, controlling costs, and improving customer service.
Kaufman stated, "I'm excited to become a part of the Giggles N' Hugs team. This is a unique concept whose time is now, filling a significant void in the market place. I'm confident that the success of our first three locations in Los Angeles, together with the work of Philip and the rest of our all-star team, gives us the necessary foundation to rapidly expand operations moving forward."
During Kaufman's 36 years of experience in the restaurant industry, he has opened more than 100 restaurants including 2 of his own, Truxton's American Bistro. Kaufman has worked with some of the most successful restaurant companies to maximize operational effectiveness and significantly increase cash flow and customer counts. By combining his proven leadership skills with a deep understanding of the food industry operations, P&L management, menu/brand development, and systems and procedures, Kaufman created beneficial relationships with owners, staff, customers, and management that enabled him to achieve and maintain substantial increases in productivity, service, and profitability.
"To have the two main executives who grew California Pizza Kitchen from just two locations to the behemoth that it became is unbelievable and a huge testament to the strength of the Giggles N' Hugs concept," stated Joey Parsi, founder and CEO of Giggles N' Hugs. "I can't think of two better executives to have on our team at this stage of our growth. Add in Todd Star, the former head of westcoast leasing at Westfield USA who is now spearheading our expansion with all the major mall owners in the country, along with Sean Richards, who ran operations at Pink Taco, House of Blues, and the Hooters Casino, and then top it off with Joan Barnes, former CEO and founder of Gymboree, we truly have assembled one of the best management teams in the restaurant world."
About Giggles N' Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.