GPS Hospitality Reaches 100 BK Restaurants Oct2014
GPS HOSPITALITY ACQUIRES 39 ADDITIONAL BURGER KING® RESTAURANTS
BURGER KING® Franchisee Reaches 100 Restaurants
ATLANTA – (October 20, 2014) – GPS Hospitality Partners announced today the purchase of 39 BURGER KING® restaurants from Fire Grill, LLC on September 18, 2014. The newly-acquired stores are located in southeastern Indiana, northern Kentucky and Cincinnati, Ohio.
“We are pleased with the direction of the brand and the additional opportunities for growth within the BURGER KING® system,” said Tom Garrett, CEO and Founder. “The Cincinnati market allows us to increase our presence in the Midwest. We look forward to providing opportunities for growth for our team and continuing to improve our guests’ experiences in our restaurants.”
This is the fourth acquisition for GPS Hospitality, bringing the number of stores operated by GPS to 100. “We’re following through on our aggressive growth plan and are well on our way to reaching 300 stores by 2018,” added Garrett. “We are excited to complete this transaction in partnership with Nonami Investments and The Cynosure Group and look forward to working with them in the future on additional transactions.”
GPS Hospitality was established in 2012 with the purchase of 42 stores in Atlanta from Burger King Corporation. In December 2013, GPS purchased 15 additional stores in West Virginia and southwestern Ohio, followed by four more restaurants in the Atlanta market in February 2014.
About GPS Hospitality GPS Hospitality is a BURGER KING® franchisee, operating 100 stores in Georgia, Indiana, Kentucky, Ohio 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 over 13,000 locations serving over 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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