Restaurant Technologies, Inc. Receives Minneapolis/St. Paul Business Journal’s Fast 50 Award

 

November 1, 2007

MINNEAPOLIS – (November 26, 2007) – The Minneapolis-St. Paul Business Journal recently announced its annual list of awardees to the “Minnesota Fast 50,” an annually published list of the 50 fastest growing private companies in the Twin Cities area with revenues of more than $1 million. For the seventh consecutive year, Minneapolis-based Restaurant Technologies, Inc. (RTI), was named to this prestigious list.

“It’s an honor to once again be listed with this group of strong performing, privately held companies in the Twin Cities,” said Jeff Kiesel, chief executive officer, RTI. “As a company, we understand the increasing demand for our services and products in the foodservice industry and we’re working hard to meet these needs,” he continued. RTI has installed its proprietary, closed loop oil management system in more than 15,000 foodservice kitchens across the country. This system for the storing, handling and disposal of frying oil translates directly to improved efficiency, employee safety and food safety. In addition, RTI’s oil management system provides environmental benefits to its users via the reduction of oil usage, the reduction of packaging materials and the recycling of waste oil for eco-friendly uses. No other company in the industry offers this technology. RTI supplies high quality frying oils, including zero trans fat oils, to each of its customers. The company’s nearly 100-percent contract renewal rates prove the measurable value of the system.

RTI anticipates continued growth, with Kiesel estimating business potential well in excess of $1.5 billion. “This past year, we’ve expanded to 36 domestic service and distribution depots to allow for continued growth in the U.S., and we anticipate international growth in the coming months and years,” he said.

RTI also this year acquired Global Tier, an information-utility and professional services firm that specializes in network-enabling equipment, targeted application development, data collection and data management. The firm assists its foodservice customers in tracking the performance of professional kitchen equipment, delivering the analyzed data to them electronically. “Global Tier’s technology has assisted us in further integrating with our customers, providing them a valuable tool in achieving improvement in day-to-day kitchen operations,” said Jon Getzinger, executive vice president, sales and marketing, RTI.

About RTI

Restaurant Technologies, Inc. (RTI) is a privately held, Minneapolis-based company providing oil management services to more than 15,000 national restaurant chains, independent operators, grocery delis, universities, hospitals and other foodservice outlets. Led by Jeff Kiesel, chief executive officer, RTI currently operates 36 depots across the United States and plans to add new markets in the coming years. With annual growth rates of 50-percent since its founding, RTI’s goal is to be the frying oil and oil management system of choice for foodservice operators nationally and internationally. For further information on the company, visit www.rti-inc.com.

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