In late September, Carrollton, Texas-based casual dining bar and grill, TGI Fridays (800/374-3297 www.fridays.com) launched a refranchising initiative designed to accelerate the growth and re-imaging of the brand’s restaurant portfolio. Following completion of this program, TGI Fridays expects to franchise most of its 247 company-owned and operated locations in the United States to experienced franchise operators. Potential and current franchisees are being offered the opportunity to purchase groups of restaurants in exchange for a commitment to an accelerated timetable for restaurant re-imaging and construction of new restaurants. Two years ago, Fridays began a nationwide re-imaging program to renovate existing restaurants with a new contemporary. To date, 93 restaurants have been reimaged in the U.S., driving incremental guest traffic, sales and profitability in each location. “It’s important to note that we’re only franchising our corporate restaurants to owners with a proven track record of success and excellence, and who have a clear passion for our brand and our people,” added TGI Fridays President, CEO Nick Shepherd. Over the past few months, the company has negotiated two 20-plus unit refranchising transactions. One is with an existing Fridays’ franchisee and the other is with an experienced multi-store operator. Both transactions are expected to be completed over the next 60 days. TGI Fridays is jointly owned by Sentinel Capital Partners and TriArtisan Capital Partners and operates over 900 restaurants in more than 60 countries…….
Wahlburgers (781/749-2110 www.wahlburgersrestaurant.com), the quick casual burger restaurant founded by brothers Mark, Donnie and Paul Wahlberg and the focus of A&E Network’s reality show, announced a three restaurant franchise agreement with Vegas American Hospitality Inc. The first Wahlburgers in Las Vegas will open in early 2015 with two others to follow within the next five years. The yet unidentified locations will be consistent with the company’s targeted premiere, high traffic areas. The Las Vegas restaurants are planned to be over 4400 square feet with sizable outdoor patios and offer all the signature characteristics of the flagship restaurant in Hingham, Massachusetts, including full-serve and quick-serve dining options, take-out and a full bar………
Late in the week, food service company MTY Food Group Inc. (514/336-8885 www.mtygroup.com) reported that its wholly-owned subsidiaries, MTY Tiki Ming Enterprises Inc. and MTY Franchising USA Inc., have entered into a binding agreement to acquire the assets of a group of companies that owns and operate the Manchu Wok (905/946-7200 www.manchuwok.com), Wasabi Grill & Noodle (www.wasabigrillandnoodle.biz) and SenseAsian (www.senseasian.ca) restaurants in Canada and in the United States. The total consideration for the transaction is expected to be $7.9-million (Cdn). Currently there are 133 restaurants in operations, of which 114 are franchised and 19 are corporately-owned. Fifty-one units are located in the United States, including five corporately-owned locations. During its most recent completed fiscal year, the network generated approximately $95-million in system sales. The transaction is expected to close on or before December 16th, 2014. Following the closing of the transaction, the operations of the franchisor will be relocated in MTY's offices in Richmond Hill, Ontario. "Manchu Wok is an iconic brand in the ethnic food category and has a long history of success" said Stanley Ma, CEO of MTY. "We are very proud and excited to have the opportunity to add Manchu Wok, as well as Wasabi Grill & Noodle and SenseAsian, to our portfolio of brands. The addition of Manchu Wok will further increase our presence in Canadian food courts and will add to MTY's nascent franchise network in the United States." MTY Group is a Montreal-based company that operates over 2200 quick service restaurant under more than 26 banners………
In mid-2015, Wegmans Food Markets (800/934-6267 www.wegmans.com) will open a 126,000 square supermarket at the Hilltop Village Center at Telegraph Rd. and Beulah St. in Alexandria, Virginia. Along with its restaurant-quality prepared foods, this will be the first store in Virginia to include The Pub by Wegmans (www.wegmanspub.com), a full service restaurant within the store. Currently there are five in-store Pub by Wegmans restaurants in Pennsylvania that incorporate a wide menu ranging from fresh salads and sandwiches to steak dinners along with domestic, imported and craft beers, food-friendly wines and signature cocktails…….
Irving, Texas-based family dining and entertainment company CEC Entertainment Inc. (972/258-8507 www.cecentertainment.com) reported in mid-October that it has acquired the Phoenix, Arizona-based Peter Piper Pizza (www.peterpiperpizza.com), a pizza and entertainment restaurant chain operating 32 company-owned locations and 115 franchises in the southwestern United States and Mexico, from affiliates of private equity firm, ACON Investments LLC (202/454-1100). CEC intends to continue operating the Peter Piper brand in addition to implementing growth initiatives to expand the chain nationally. Introduced in Glendale, Arizona in 1973 by Tony Cavolo, Peter Piper Pizza has evolved from a 4000 square foot discount pizza restaurant into a chain in the Southwestern U.S. and Mexico. Many of Peter Piper Pizza’s newest facilities feature a 10,000 square foot layout, with flat screen televisions, free Wi-Fi, and beer and wine for the adults. North Point Advisors acted as exclusive financial advisor to Peter Piper. Hogan Lovells acted as legal advisor to Peter Piper. Wachtell, Lipton, Rosen & Katz acted as legal advisor to CEC. CEC operates over 570 Chuck E. Cheese family dining and entertainment locations in the United States and over ten countries……...
Newly formed franchise group MidSouth Hospitality Inc. (662/396-4299) has reached an agreement with quick casual restaurant chain McAlister’s Deli (888/855-3354 www.mcalistersdeli.com ) to open ten locations in Middle Tennessee. Led by McAlister’s veteran Charles Corley, MidSouth Hospitality will be opening its first McAlister’s in early 2015. The company plans to open the new restaurants over the next seven years. No stranger to McAlister’s, Corley began as a McAlister’s franchisee in 2000 and spent five years building a portfolio in Kentucky before joining the corporate team as Vice President of Operations. The fast casual restaurant chain with its menu of sandwiches, spuds, soups, salads and desserts presently has more than 330 restaurants in 24 states. Three McAlister’s Deli restaurants are already operating in the Nashville market…..
Blaze Fast Fire’d Pizza (626/584-5880 www.blazepizza.com), the build-your-own pizza chain, announced that it will be opening eight locations in Florida by the end of 2015. The Los Angeles-based quick casual concept is scheduled to open its first Florida location in Ft. Lauderdale’s Uptown Centre at 6334 North Andrews Ave., in November, and a second location in Gainesville near the University of Florida at 3617 Archer Rd., in December. In 2015, the chain will add six more locations in the state, including Boca Raton’s Fifth Avenue Shops at 2146 North Federal Hwy., in Orlando at the University of Central Florida at 4100 North Alafaya Trail, in Sarasota at The Mall at University Town Center at 140 University Town Center Dr., in Davie near Nova Southeastern University at 2101 University Dr. and in Tallahassee at 1708 West Tennessee St. and on Magnolia Dr. Incorporating its ‘assembly-line format’, the restaurant allows its guests to customize one of the menu’s signature pizzas or create their own, choosing from a wide selection of fresh, artisanal ingredients. The pizzas are then sent to the open-flame oven, the centerpiece of the restaurant, where the thin-crust pies are fast-fire’d and ready to eat in just 180 seconds……...
Chicago-based DIY Restaurant Group (708/352-1300 www.diyrestaurantgroup.com) is implementing a new franchise program to initiate its expansion efforts in the MidWest followed by national expansion. Founder and CEO Carlo Abunijmeh explained that the company has been developing its fast casual and customizable dining concepts and is ready to roll out the concepts on their own or as combo locations. "Now, with the Trugurt Frozen Yogurt and uBuild Pizza Workshop, we are ready to grow our brands,” he said. “We don't look at our franchise like most companies. Our approach is to concentrate on supporting every location adequately and growing steadily but surely. That's how we have always done things, and our history shows it works." DIY's Trugurt Frozen Yogurt concept serves a USDA-certified organic yogurt along with 100 percent organic fruit smoothies and Mighty Leaf Artisan-crafted Tea. DIY's second concept, uBuild Pizza Workshop offers more than 80 premium ingredients to create a customized pizza, pasta or salad dish. The franchise program, developed with the help of the Chicago-based iFranchise Group and Liss & Lamar, P.C., initially will be rolled out in Illinois…...
Quick casual franchise chain, Burger 21 (813/425-6252 www.burger21.com) is targeting the greater Washington DC area for future franchise development. Target cities include Bethesda, Silver Spring, College Park and Rockville in Maryland and Alexandria, Arlington, Manassas and Gainesville in Virginia as well as downtown D.C. To fuel expansion in the region, the company will be exhibiting at the Capital Franchise Expo at the Dulles Expo Center in early November. The first Burger 21 in Virginia opened in Ashburn early in 2014. The 3200 square foot, 112 seat restaurant is owned and operated by RNJ Management Inc., an experienced franchise group that has three additional locations committed for development in an area that contains Tysons Corner, Chantilly and Reston. As the brand continues to expand across the U.S., Burger 21 is seeking single- and multi-unit operators with restaurant experience to join its upscale fast casual dining concept……