NEW YORK--(EON: Enhanced Online News)--The ONE Group, LLC, a wholly-owned subsidiary of Committed Capital Acquisition Corp., (“The ONE Group”) (OTCQB:STKS) announced today that it has purchased the remaining 40 percent ownership interest of the entity that owns the STK Miami restaurant in Miami, FL from a long-time joint-venture partner.
“We are very pleased to consolidate ownership of this location into The ONE Group”
“We are very pleased to consolidate ownership of this location into The ONE Group,” said Jonathan Segal, CEO of The ONE Group. “We have built a strong brand with a passionate following in Miami and look forward to re-opening the beautiful, newly redesigned STK in South Beach early next year. Our guests can expect the same premium, high-energy dining and nightlife experience that has set a new standard in the way people go out.”
The transaction closed on October 23, 2013. The ONE Group recently became a publicly traded company through a business combination with Committed Capital Acquisition Corporation. The ONE Group’s primary STK steakhouse brand is a category leading, highly differentiated restaurant concept, and ranks among the most popular dining and social destinations in each of the cities in which it operates.
About The ONE Group
The ONE Group develops and operates upscale, high-energy restaurants and lounges and provides “ONExperience”, a turn-key food and beverage service for hospitality venues including boutique hotels, casinos and other high-end locations in the United States and United Kingdom. The ONE Group’s primary restaurant brand is STK®, which is a unique steakhouse concept with locations in major metropolitan cities throughout the U.S. and in London. STK artfully blends two concepts, the modern steakhouse and a chic lounge, into one offering a high-energy, fine dining experience with the superior quality of a traditional steakhouse. The ONE Group’s food and beverage hospitality services business provides the development, management and operations for premier restaurants and turn-key food and beverage services at high-end boutique hotels and casinos. Additional information about The ONE Group can be found at www.togrp.com.
Cautionary Statement on Forward-Looking Statements
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements, including but not limited to, (1) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with suppliers and obtain adequate supply of products and retain its key employees; (2) changes in applicable laws or regulations; (3) the possibility that the ONE Group may be adversely affected by other economic, business, and/or competitive factors; and (4) other risks and uncertainties indicated from time to time in filings with the SEC by Committed Capital.
Investors are referred to the most recent reports filed with the SEC by Committed Capital. Investors are cautioned not to place undue reliance upon any forward looking statements, which speak only as of the date made, and The ONE Group and Committed Capital undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise.