Latest franchise agreement adds 10 restaurants to the Smashburger system, keeping the company well on track to meet its aggressive national expansion goals
DENVER May 11, 2009 Smashburger®, a fast-casual better burger restaurant concept launched and funded with $15 million from private equity and concept development firm Consumer Capital Partners (CCP), has secured its ninth franchisee, SB Sizzle, Inc. The latest agreement brings the total number of Smashburger franchise locations to 177.
The SB Sizzle agreement means Smashburger will have more than 75 restaurants in Texas over the next five years, making Texas Smashburgers largest market. With a combination of corporate, franchise and joint venture partnerships, Smashburger has created a strategy that allows the Denver-based company to grow quickly without sacrificing quality or the customer experience.
SB Sizzle has shown past success with several quick-service and fast-casual restaurants, and its experience managing multi-unit franchises is exactly what Smashburger is looking for in franchise partners, said Scott Crane, president of Smashburger. Smashburger has seen great success in Houston, proving that people in Texas want a better burger. SB Sizzle will give Smashburger even more reach in the market and bring a better burger to thousands across East Texas. SB Sizzle has agreed to open 10 Smashburger restaurants in East Texas, stretching from Tyler to Longview to Beaumont. SB Sizzle has looked at several locations in the region and plans to open its first restaurant by the end of 2009. The remaining restaurants will open in 2010 and 2011.
Texas is burger country, so when we learned about the Smashburger franchise opportunity, we were excited to sign on, said David Weaver, director of development of SB Sizzle. Smashburgers focus on growth and quality fit perfectly with what SB Sizzle is trying to do. We know people living in East Texas will respond in a big way to Smashburgers unique concept.
The SB Sizzle team brings more than 50 years of restaurant experience and currently owns and operates close to 40 popular multi-unit franchise restaurants in Texas. The principals bring experience from several fast-casual and quick-service concepts and have a keen understanding of the Texas market.
Our ability to consistently sign strong franchisees like SB Sizzle speaks to Smashburgers solid concept and strong management team, said Dave Prokupek, chairman of the board of Smashburger and managing partner and chief investment officer of CCP. Our team understands what consumers want, but we also know the market and what makes a successful franchise relationship. Our franchisees will help us expand Smashburger and bring a better burger to towns across the country.
Named for the cooking method used to create the perfect burger, Smashburgers are either a one-third or half-pound ball of beef smashed on a flat grill to sear in superior juicy flavor. To further the better burger experience, Smashburgers are served on a toasted artisan bun and topped with a selection of real cheeses, the freshest produce and top-quality condiments. Tasty sides like Smashfries and Veggie Frites, Smashchicken sandwiches, Smashdogs, Smash salads, Haagen Dazs shakes and malts, and beer and wine round out the Smashburger menu.
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 (CCP), Smashburger has sold significant franchise agreements that assure 200-plus locations over the next five years. The franchise deals are part of Smashburgers national expansion plans to open 500 restaurants across the country, with 30-60 of those scheduled for 2009. 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 www.mysmashburger.com.
About Consumer Capital Partners
Denver-based Consumer Capital Partners (CCP) is an innovative private investment and concept development firm focused on multi-unit retail businesses, primarily in the restaurant, liquor, food, and leisure industries. CCP has deep experience in the fields of private equity, brand, concept and product development, and strategic consulting. To learn more about CCP, please visit www.consumercp.com.
Media Contact: Grace Markley