La Cima Restaurants agrees to acquire majority stake in 78-Unit Company
Twin Peaks announced that it has agreed to sell a majority interest in the company to its largest franchise group, Atlanta-based La Cima Restaurants, which currently owns and operates 15 Twin Peaks sports lodges across six southern states. Terms of the acquisition were not disclosed.
Following a brief transition, Twin Peaks CEO Starlette Johnson will pass the reins to Joe Hummel, currently La Cima’s Chief Operating Officer, who will step in as Twin Peaks CEO. Hummel will report to the Twin Peaks board of directors, chaired by founder Randy DeWitt. La Cima Managing Partner Coby Brooks will join the Twin Peaks board. Johnson will return to her seat on the Front Burner Restaurant Group board, working closely with DeWitt on emerging concepts.
“I’m proud of what we’ve been able to accomplish over the past several months and am confident that the future of Twin Peaks is bright,” said Johnson. “Joe understands what has made Twin Peaks so successful and is the right guy to lead the next chapter of our growth.”
“The process of re-energizing Twin Peaks is something we’ve all been working on and I’m excited for the chance to accelerate this process,” said Hummel. “The heart of the Twin Peaks experience has always been fun and hospitality, and I’m looking forward to working with the board and the team to bring new excitement into our restaurants.”
“I’m grateful for the leadership Starlette delivered and the contributions she has made after agreeing to step into the CEO role during a challenging period in our company’s history,” said DeWitt. “We all believe in Twin Peaks and this unique partnership with La Cima, and Joe’s leadership will ensure we solidify our position as the leader in our segment.”
La Cima’s Brooks added, “Five years ago I was thankful for Randy giving me and my team at La Cima the opportunity to become what is now Twin Peaks’ largest franchisee. Today I am honored that Randy and La Cima are forging another partnership through this acquisition, and our goals for the brand are very much aligned. Joe and I have worked together for nearly 25 years, and we look forward to working with Randy and the team to continue building this great brand that all of us are passionate about.”
Founded in 2005 in the Dallas suburb of Lewisville by restaurant veterans Randy DeWitt and Scott Gordon, Twin Peaks is the ultimate sports lodge featuring made-from-scratch food, the coldest beer in the business, attractive servers and the latest in high-definition TVs. Twin Peaks was named “America’s Fastest Growing Restaurant Chain” by Bloomberg Businessweek. Twin Peaks owns or franchises 78 restaurants in 25 states. For more information, visit www.twinpeaksrestaurant.com.
Based in Atlanta, GA, La Cima Restaurants is a restaurant holding and management company, owning and operating 15 Twin Peaks restaurants in Alabama, Georgia, Florida, North Carolina, South Carolina and Tennessee. The company’s founders draw from over 150 combined years of experience in the casual dining industry, led by Managing Partner Coby Brooks.