GPS HOSPITALITY Acquire 60 BURGER KING Restaurants Across Michigan
Key Purchases Highlight Midwest Growth As Total Franchises Near 200
ATLANTA – (July 21, 2015) – Rapidly growing BURGER KING® franchisee GPS Hospitality today announces the purchase of 60 BURGER KING® restaurants across Michigan from TEAM Schostak Family Restaurants. The newly acquired eateries stretch across the Lower Peninsula and include areas such as Detroit, Lansing, Saginaw, Flint, Ann Arbor, and Pontiac.
The Michigan acquisition marks the largest single market purchase to date for GPS Hospitality and brings the total number of franchise locations across the U.S. to 196 total. This is the third acquisition in partnership with Nonami Investments and The Cynosure Group.
“These new restaurants mark continued growth for GPS Hospitality in the Midwest, and we look forward to bringing our brand of service and guest experience to the people of Michigan,” said Tom Garrett, CEO. “TEAM Schostak is a very established and highly regarded company, and we’ll continue their tradition of excellence. They have a great team in place, and we look forward to continuing to provide opportunities for growth for our people. “
“Fortunately, we found a very qualified buyer in GPS Hospitality,” said Mark Schostak, whose family has owned the BURGER KING® restaurants for the last 34 years and is Executive Chairman for TEAM Schostak Family Restaurants. “The GPS leadership team shares the same values and operational philosophies, and we are confident in their ability to continue to successfully grow and operate the BURGER KING® brand, making this transition as seamless as possible for everyone involved.”
GPS Hospitality was recently recognized by the Atlanta chapter of the Association for Corporate Growth® (ACG) as one of the fastest growing Georgia companies in 2014. By focusing on its goal-focused, talent-oriented approach to franchise management, GPS Hospitality sustains rapid growth by attracting and retaining the top talent in the QSR food industry.
About GPS Hospitality
Founded in 2012, GPS Hospitality is a BURGER KING® franchisee, operating 136 stores in Georgia, Indiana, Kentucky, Maryland, New Jersey, Ohio, Pennsylvania and West Virginia. GPS Hospitality seeks to become our guests’ favorite QSR destination by implementing our brand values of being Goal Focused, People Oriented and Service Obsessed. For more information, please visit www.gpshospitality.com.
About The Cynosure Group
The Cynosure Group was founded to bring together the resources of a number of significant family offices, anchored by the Eccles family of Salt Lake City, to make private investments in a range of industries.
About Nonami Investments
Nonami Investments is a partnership of the Thomas G. Cousins family office which focuses on making investments into companies with exceptional management teams and attractive growth opportunities.
About Burger King Worldwide
Founded in 1954, BURGER KING® (NYSE: BKW) is the second largest fast food hamburger chain in the world. The original HOME OF THE WHOPPER®, the BURGER KING® system operates in approximately 14,000 locations serving more than 11 million guests daily in 98 countries and territories worldwide. Approximately 100 percent of BURGER KING® restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. To learn more about Burger King Worldwide, please visit the company’s website at www.bk.com or follow BK on Facebook and Twitter.
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