Late in May, Bradenton, Florida-based breakfast, brunch and lunch chain First Watch Restaurants Inc. reported that it has acquired the 114-unit Centennial, Colorado.-based The Egg & I Restaurants chain of restaurants. The transaction positions First Watch Restaurants as the nation’s largest breakfast, brunch and lunch restaurant company with 267 restaurants in 26 states and a combined 18 under development in 2015. Terms of the deal were not announced. Currently, First Watch operates or franchises 153 restaurants in 17 states while The Egg & I operates or franchises 114 restaurants in 20 states. Both concepts boast a blend of company-owned and franchised restaurants. The move furthers the accelerated growth that First Watch has experienced over the past few years, which has been achieved through a combination of opening new company-owned restaurants, franchised restaurant openings and select acquisitions. First Watch President, CEO Ken Pendery noted, “We saw this acquisition as an opportunity to expand our presence in markets where we don’t currently operate. We look forward to working with Don Lamb, his team and the The Egg & I franchisees to build upon the success they have already achieved.” Lamb, the President, CEO of Egg & I added, “This partnership with First Watch not only allows us to create the largest restaurant company in the breakfast, brunch and lunch category, but it also provides an opportunity to combine the incredible strengths of these two leading brands, creating a better guest experience than ever before.” According to reports in the Denver Business Journal, the Egg & I locations will continue to operate under that banner……….
CATEGORY: Full Service/Breakfast, Lunch Restaurant
Chain Name: First Watch
Company Name: First Watch Restaurants Inc.
Street Address: 8027 Cooper Creek Blvd., Suite 103, University Park, Florida 34201
Tel: 941/907-9800 Fax: 941/907-8933
Email: [email protected] & [email protected] Website: www.firstwatch.com)
Menu Specialty: Full breakfast and lunch menu from eggs, pancakes, soups, salads and sandwiches as well as specialties.
Introduced: 1983 in Pacific Grove, California
No. of Locations: Over 150 restaurants in 17 states, Also operates the 20-unit The Good Egg chain in Arizona.
Areas of Operation: United States, Focus on the Southeast
Types of Location: Streets, Plazas, Freestanding, End Caps, Etc.
BusinessType (corp., franchise, jv): Franchise
Size Req’d: 3200 to 3600 sq.ft.
Special Requirements (patio, drive-thru, etc): Patios
Contact Name: Kenneth L. Pendery, Jr – President, CEO
Christopher A. Tomasso – Chief Marketing Officer
Richard Renninger – Chief Development Officer
Paul Hineman - CFO
Joe Genovese – Vice President, Franchise Development
REAL ESTATE REPRESENTATIVES:
FRANCHISE REPRESENTATIVES:
PARENT COMPANY: First Watch Restaurants Inc., University Park, Florida
Related Chains: The Egg & I, The Good Egg, Bread & Company
Last Report: Restaurant & QSR Expansion Report #136 Last Update:
NOTES, NAMES & NUMBERS:
CATEGORY: Full Service, Breakfast, Lunch
Chain Name: The Egg & I
Company Name: E&I Holdings Inc.
Street Address: 8000 South Chester St., Suite 575, Centennial, Colorado 80112
Tel: 303/768-8883 Fax:
Email: Website: www.theeggandirestaurants.com
Menu Specialty: Breakfast and Lunch menu.
Introduced: 1987 in Fort Collins, Colorado
No. of Locations: Over 110 in 26 states
Areas of Operation: National
Types of Location:
BusinessType (corp., franchise, jv): Franchise
Size Req’d: 3400 to 4000 square feet, Seating for about 140
Special Requirements (patio, drive-thru, etc): Limited hours, Patio welcomed
Contact Name: Don Lamb – President, CEO
Tom Petska – Director, Franchise Development (770/616-9070 [email protected])
Jan Barnett – Director, Marketing (303/768-8887 [email protected])
David Miller – Director, Real Estate (303/768-8883 [email protected])
REAL ESTATE REPRESENTATIVES:
FRANCHISE REPRESENTATIVES:
PARENT COMPANY: First Watch Restaurants Inc., University Park, Florida
Related Chains: First Watch, The Good Egg, Bread & Company
Last Report: Restaurant & QSR Expansion Report #136 Last Update:
NOTES, NAMES & NUMBERS: