Superior Times is Poor Daddy’s speedy-support counterpart under Superior Occasions Places to eat. / Photograph: Shutterstock
Very good Situations Eating places, the proprietor of Good Occasions Burgers & Frozen Custard and Lousy Daddy’s Burger Bar, will turn out to be the sole proprietor of 5 Terrible Daddy’s models in the Carolinas following obtaining out its joint-enterprise associates for $4.4 million.
The offer delivers all of Undesirable Daddy’s standard spots less than enterprise possession, Great Instances claimed Monday in a press release, while it was unclear how many of the chain’s 41 units are deemed regular. It funded the obtain with dollars reserves.
The five stores are in Winston-Salem, Fayetteville, Greenville and Greensboro, N.C., and Greenville, S.C. Fantastic Moments has operated all of them considering that they opened.
“We are seriously enthusiastic about formally obtaining complete ownership of these locations,” Good Moments CEO Ryan Zink claimed in a statement. “They are presently family members as former joint-enterprise restaurants, and we have deep familiarity with the working history in just about every spot.”
Golden, Colo.-centered Good Situations took a 48% stake in North Carolina-based Negative Daddy’s in 2013 and acquired the relaxation in 2015 for $21 million. The comprehensive-services chain presents gourmand burgers, salad and craft beer in smaller-footprint stores. It is generally found in the Southeast and Colorado.
Past calendar year, Negative Daddy’s posted document sales of $103.2 million and an 11.2% increase in identical-shop sales but struggled with profitability due to soaring costs.
Zink stated in December that the brand name ideas to resume enlargement this yr with an opening in Hunstville, Ala., and negotiations underway in Birmingham, Ala., and Raleigh, N.C.
Customers assist make our journalism doable. Develop into a Restaurant Business enterprise member currently and unlock distinctive positive aspects, which includes limitless access to all of our content. Signal up right here.