Dallas, Texas (September 15, 2008)

A group of investors led by Rich Waring has acquired The Quintessence Corporation, franchisor of Texadelphia, The Original Texas Cheesesteak brand restaurants. There are currently 19 restaurants open in Dallas-Fort Worth, Austin, Houston, San Antonio, Texas, and Norman, Oklahoma. Terms of the deal were not disclosed. Waring had most recently been with Applebee's Services Inc, and previously with industry consulting firm, Batrus Hollweg International.