Denver-based Smashburger has ramped up its franchising efforts with plans to enter new markets in Alaska, California and Texas, the burger restaurant chain announced Tuesday.
Smashburger inked agreements with three franchise operators to open a combined 15 restaurants in Alaska, including Anchorage; California, including San Jose and Monterey Bay; and Texas in Colin County, officials said.
The planned restaurants lift Smashburger’s development pipeline to more than 350 locations in the coming years as the company looks to expand nationally and overseas.
Smashburger currently has about 340 restaurants in 35 states and seven countries outside the United States.
The privately held Smashburger added a little financial muscle this fall when the Philippines-based Jollibee Foods Corp. took a 40 percent stake in the Denver company.
The $100 million deal put Smashburger’s enterprise value at $355 million and gives the company access to additional resources for future expansion, company officials said in October.