Mascott Corporation Signs Deal for Northeast New Jersey Territory and Becomes First Member of Smashburger Founders Club
Denver, CO 22 October 2008 Smashburger, a fast casual better burger concept recently launched and funded with $15 million by private equity and concept development firm Consumer Capital Partners (CCP), has secured its first franchisee and Founders Club member, New Jersey-based Mascott Corporation. Mascott Corporation has over 20 years of experience in the region, and is currently a multi-unit operator of Popeyes Louisiana Kitchen, Carvel Ice Cream Stores, Cinnabon World Famous Cinnamon Rolls and Seattles Best Coffee (a Starbucks Brand), as well as their own Markers Restaurant and Markers Express.
As a Founders Club member, Mascott will provide valuable field insight on Smashburgers brand and menu development as well as operations and real estate. The Founders Club designation will be reserved for the first five large franchisees to join the Smashburger team.
The Founders Club is an important component of our business model as we believe that tapping into the expertise of sophisticated, geographically dispersed, multi-unit operators can provide invaluable insight as we grow, said David Prokupek, Managing Partner and Chief Investment Officer of Consumer Capital Partners. We intend to grow our footprint nationally in the next year and the best way to do that is with the support of operators like Mascott who are well capitalized and have the depth and breadth of experience on the East Coast that will undoubtedly set us up for success in that part of the country.
Mascotts 30 franchise locations in New Jersey will complement Smashburgers seven corporate locations in Denver and Ft. Collins, Colo. The Company plans to grow its corporate footprint to a total of 10-15 stores by the end of 2008 and as many as 30-60 stores by the end of 2009 on its way to achieving a strong national footprint.
We have stated from day one that our goal is to become the top national player in the fast-casual burger category, and todays news gets us one step closer to achieving that objective, said Scott Crane, President of Smashburger. The Gillman family with Scott, Marc and Richard, perfectly fit our partner profileMascott is well capitalized, family-owned and has a laser focus on the customer and the experience; they have deep multi-unit franchise experience within the region they will operate; and they understand the value of being good corporate partners in the communities they serve. We look forward to working closely with the Gillmans as they bring a
better burger to the burger lovers of the New Jersey and New York areas.
As we considered growth opportunities for Mascott, it quickly became evident that Smashburger was one of the most well-executed and financially viable concepts in the fast-casual segment, said Scott Gillman, CEO of Mascott Corporation. The burger is the best tasting in the business and the depth of talent in the day-to-day management, as well as access to the resources of Consumer Capital Partners, creates a very strong value proposition for their franchisees.
Headquartered in Denver, Colo., Smashburger is an innovative fast casual restaurant concept featuring the best burgers you ever tasted. Developed and owned by private equity and concept development firm Consumer Capital Partners, Smashburger intends to expand to 10-15 restaurants by the end of 2008 and another 30-60 corporate stores in 2009 on its way to becoming the national better burger leader. There are currently seven restaurants located in the Colorado area. If you crave a better burger, keep watching for Smashburger–coming to your community soon! To learn more about building a better burger, please visit http://www.mysmashburger.com.
About Consumer Capital Partners
Headquartered in Denver, Colo., Consumer Capital Partners is an innovative private investment, concept development and strategic advisory firm focused on multi-unit retail businesses, primarily in the restaurant, liquor, food and leisure industries. Consumer Capital Partners has deep experience in the fields of private equity, brand, concept and product development, and strategic consulting. To learn more about Consumer Capital Partners, please visit http://www.consumercp.com.
Consumer Capital Partners