Denver restaurant company Smashburger has inked a franchise agreement with San Antonio operator SB Alamo Development LLC to bring the Smashburger concept to a region that includes Austin.
Financial terms were not disclosed.The agreement gives SB Alamo rights to open Smashburger restaurants to a broad region that includes San Antonio, Austin, West Texas and New Mexico.
The long-term plan calls for SB Alamo to open a total of 45 stores over the next eight years.
SB Alamo is already a veteran in the restaurant game. The firm currently operates 22 Buffalo Wild Wings restaurants, 30 Little Caesars Pizza stores and 15 Zio’s Italian Kitchen sites.
“SB Alamo’s track record of success speaks for itself,” said Smashburger President Scott Crane. “Their demonstrated vision and operational excellence has made them a top franchise company in the country, and they will undoubtedly benefit the entire Smashburger system.”
SB Alamo marks Smashburger’s third franchise agreement since October 2008. All told, these agreements are poised to create 105 new Smashburger locations. There are currently 10 Smashburger restaurants – including eight in Colorado and one in each in Houston and Wichita, Kansas.
The owner and developer of the Smashburger restaurant concept is Denver-based private equity firm Consumer Capital Partners.
Smashburger debuted in the burger business a little over two years ago.
This past October, Consumer Capital Partners invested $15 million in the venture – for the purpose of bringing Smashburger to a wider audience.