Dixie Lee International Industries Inc. is a Canadian-based restaurant franchisor that hopes to rejuvenate a piece of American culture long-past; the stainless steel family diner.
Dixie Lee Chicken was first sold in Ontario, Canada in 1964. Citizens of the town of Belleville were given their first taste of traditional Louisiana-recipe chicken, and the company has been serving it ever since. With more than 80 corporate-owned and franchised Canadian restaurants in operation today, Dixie Lee now hopes to prove itself on American soil.
Having recently retained Reovest Growth Research to assist in their proposed equity financing, Dixie Lee Chicken has taken one step toward ‘crossing the road’ into American markets. They hope to re-invigorate the concept of the traditional 1950’s roadside diner, and bring their famous Louisiana recipe back to its country of origin. While shares currently trade in the .60 to .70-cent range, Reovest has placed a speculative target price of $3.65-4.55 on the company’s stock.
In other news, Dixie Lee International was recently removed from the short-list; 65,500 shares declared short as of March ’08. When coupled with 20 additional stores being built at present, and with plans to expand franchising into the U.S., Dixie Lee is a food-service entity that could easily find its way onto our radars.
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