Dallas-based Brinker International Inc. plans to buy 116 Chili’s Grill & Bar restaurants from franchisee ERJ Dining, according to a regulatory document filed Wednesday afternoon. The parent of Chili’s did not disclose the value of the deal, only stating that the restaurants generate revenue of about $300 million a year. Most of the casual-dining restaurants are in the Midwest. EJR is based in Louisville, Ky., and has been a Chili’s franchisee for 14 years. The transaction, funded by an existing line of credit, is expected to close in the first quarter of 2020, Brinker said. “This acquisition is a compelling opportunity to further invest in our brand, broaden our scale and create growth in earnings and cash flow,” said Joe Taylor, Brinker’s chief financial officer, in a statement. “We appreciate the relationship we developed with ERJ over the years and view these well-established restaurants as a solid foundation for further growth in these markets.” Other restaurant brands have been buying back franchised units. In December, for example, Applebee’s, a division of Glendale, Calif.-based Dine Brands, took a step back into restaurant ownership with the purchase of 69 locations from Raleigh, N.C.-based franchisee Apple Gold Group. For the third quarter ended March 27, Brinker’s net income was up 6.2% to $49.8 million, or $1.31 a share, from $46.9 million, or $1.02 a share, in the prior-year period. Revenues increased 3.3% to $839.3 million from $812.5 million in the same quarter last year. Same-store sales at Chili’s company-owned restaurants increased 2.9% in the quarter. Same-store sales at U.S. franchised restaurant sales increased 2%. For the recent Nation’s Restaurant News Top 200 census, ERJ reported U.S. sales of $325 million for the fiscal year ended in December 2018 from 123 franchised Chili’s locations. Those fiscal-year 2018 sales were up 3.2% from $315 million in 2017, when EJR ended the year with 125 Chili’s restaurants. Brinker, the parent of Chili’s and Maggiano’s Little Italy, has about 1,700 restaurants. – Source: NRN.
- Who We Are
Our Mission:
"…to be the highest quality provider of human capital to our clients.”
- What We Do
Human Captial Management Solutions That Work
Being Better often requires assistance from others who can help get your there.
- Employers
Welcome Job Seekers
Our #JobSquad has assembled everything Job Seekers need, to beBetter.
- Job Seekers
Welcome Employers
Our #JobSquad has assembled everything Employers need, to beBetter.
- Blog
Ways for you to beBetter
Tips, tools and perspectives for job seekers, employers as well as general information on ways to beBetter.
- Connect
Get Connected:
Connect easily with our Corporate Office or with any of our Franchise locations.Corporate Office, Coral Springs, FL
(954) 493-9200 info@ariteam.com
Atlanta, GA
(770) 433-2220 iphillip@ariteam.com
Chicago, IL
(312) 780-7510 cwilson@ariteam.com
Dallas - Ft. Worth
(469) 922-2096 eroshan@ariteam.com
Davie, FL
(954) 990-4545 frankc@ariteam.com
Hollywood, FL
(954) 708-1099 marci@ariteam.com
Manchester, NH
(603) 825-5520 van@ariteam.com
Simpsonville, SC
(864) 900-2144 matt@ariteam.com
(864) 900-2144 grace@ariteam.com
- Search Jobs
Featured Jobs
- Accounting ManagerAccounting Manager Are you looking to join a team with an amazing mission, inclusive culture,...
- ControllerNE Remote Controller This fast-growing Healthcare company is searching for a NE Remote...
- Culinary Sales Manager (Clone)WESTERN REGIONAL CULINARY SALES MANAGER ...
- Accounting Manager
Leave a Reply
You must be logged in to post a comment.