Smashburger has inked a franchise agreement with San Antonio, Texas, operator SB Alamo Development LLC for development rights to bring the Denver company’s “better burger” concept to an area that includes San Antonio, Austin, West Texas and New Mexico.
Financial terms were not disclosed.
The long-term plan calls for SB Alamo to open a total of 45 stores over the next eight years. The group looks to have its first restaurant up and running in San Antonio no later than April.
SB Alamo is already a veteran in the restaurant game. To date, the firm is the operator of 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,” Smashburger President Scott Crane said in a statement Tuesday. “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 Smashburger starts with a choice of buns – a butter-toasted egg bun, multi-grain or spicy chipotle. The signature touch is that the beef is smashed on the grill. It is a process that creates on the bottom of the patty a caramelized coating of juices that give the burger its flavor.
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.
“We are thrilled to be in on the ground floor with the next biggest success in the restaurant industry,” Lawrence F. Harris, CEO of SB Alamo, said in the statement. “And we look forward to bringing Texas and New Mexico the best burger they’ve ever tasted.”