Transaction Expands National Footprint by 44 Locations
Cheddar’s Scratch Kitchen, a full-service restaurant based in Irving, Texas, has completed its acquisition of 44 restaurant locations from Kentucky-based Greer Companies, the company’s largest franchisee. The purchase increases Cheddar’s Scratch Kitchen’s corporately-owned restaurants to 139 out of the 164 locations nationwide, adding locations in Kentucky, Ohio, Indiana, Tennessee, Virginia, West Virginia and North Carolina. Cheddar’s Scratch Kitchen is a portfolio company of L Catterton and Oak investment Partners.
“Greer Companies have always been an important part of Cheddar’s Scratch Kitchen, so our decision to officially bring them into our corporate family was a natural next step,” said Ian Baines, President and CEO of Cheddar’s Scratch Kitchen. “We look forward to continuing to provide the great hospitality that the Greer Companies offered for so long.”
Greer Companies, a family-owned, hospitality and real estate development company, has been a franchise owner of Cheddar’s Casual Café for over 20 years across seven different states. Both Greer Companies and Cheddar’s Scratch Kitchen believe in serving-up quality food and hospitality at a great value. These shared principles made Greer Companies and Cheddar’s Scratch Kitchen exceptional restaurant partners and helped grow the brand.
“We’re pleased to know that Cheddar’s Scratch Kitchen will continue the Greer Companies’ legacy of doing right by people for years to come,” said Phil Greer, CEO of Greer Companies. “We’re looking forward to watching the brand continue to shine and know that our team members and our Guests will continue to experience exceptional service, which brings us great pride.”
The acquisition comes as the brand continues its growth, opening both corporate and franchise locations in 2016, expanding its footprint to 164 restaurants nationwide. All 44 acquired restaurant locations will continue to operate under the Cheddar’s Casual Café nameplate.
For more information on Cheddar’s Scratch Kitchen, visit www.cheddars.com.