NEW YORK, NY–(Marketwired – Nov 20, 2014) – Rising India, Inc. (OTC: RSII), a dynamic developer of restaurant concepts and other ventures focused in meals and entertainment, announces today that it is in late-stage discussions with a food delivery service company which offers a convenient system for online or mobile ordering, with current operations in Greater New York City area with a flagship focus in over 200 stores in Brooklyn.
“We are currently looking at a few attractive options for our inaugural acquisition in this space,” states RSII CEO James DiPrima. “I am pleased with the identified targets to date and am confident we will accumulate a sensible but innovative portfolio of holdings toward taking the Company to the next level. It is my goal to have impactful acquisition(s) and/or assets toward shareholder benefit in Q1 2015.”
“My primary focus in working with our acquisitions committee will be to identify attractive, undervalued and/or distressed companies in the realm of QSR and food delivery service. As well, we look to harvest original concepts toward successful franchise opportunities and are currently exploring the addition of seasoned and successful restaurant operators to our Board or special committees to help ensure successful launch with sustainable revenues and expansive opportunities.”
According to the National Restaurant Industry, projected restaurant industry sales are expected to reach $683.4 billion in sales by end of 2014. The majority of restaurants will be spending considerably more resources on recruiting and retaining employees and an increase in technological spending is expected as well. The industry will continue to be the nation’s second-largest private employer with 990,000 restaurants employing 13.5 million individuals, or about 10 percent of the total U.S. workforce.
“As our nation continues its road to recovery, the restaurant industry will remain a key driver of economic growth and a leading jobs creator,” said Dawn Sweeney, president and CEO of the National Restaurant Association. “Restaurants touch every community across the U.S., and 2014 will be a year of growth and innovation as the industry focuses on inspired new ways to meet consumer demand while providing valuable careers to millions of Americans.” (source: Restaurant.org)
Rising India plans to capitalize on the vast opportunities here while staying attentive to current trends in customer behavior, including opportunities with local growers, farm to table concepts, and overall healthier choices for consumers without sacrificing convenience.
“I thank shareholders for their patience during this transitional period. I am dedicated to doing whatever it takes to foster cumulative growth for the Company and its shareholders and am confident that our initial acquisition will be an impactful step for all involved.”
About Rising India, Inc.
Rising India, Inc. is a dynamic developer of restaurant concepts and other ventures focused in meals and entertainment driven by our mission to become a global leader in delivering exceptional dinning and social experiences. Learn more at RisingIndiaUSA.com, or follow us on Social Media at: Facebook.com/RisingIndiaUSA or Twitter.com/RisingIndiaUSA.
Forward-Looking Statement Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company’s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.