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Cambridge Franchise Holdings is becoming a major player in the Burger King system by taking on another 42 BK locations in the Southeast U.S. The growing restaurant and real estate company also just added 5 All-in-One convenience stores to its holdings.
Cambridge Franchise Holdings bought the restaurants and convenience stores from Mirabile Investment Corporation, which is owned by real estate developer and restaurateur Joseph Mirabile. All the acquired properties are located in Tennessee, Mississippi, and Arkansas.
“Joe Mirabile built a phenomenal business with a focus on operations and restaurant quality,” said Ray Meeks, CEO of Cambridge Franchise Holdings. “We are excited to work together with our new team members and are committed to maintaining the high standards of operations and development set by Joe and his team.”
This is the largest of 15 restaurant and real estate acquisitions that Cambridge Franchise Holdings has completed since forming in 2014. The company purchased 22 Burger King locations in the Southeast in 2014. In April of last year, it acquired 11 locations in the Shreveport, La., market, and three locations in the Blue Ridge Mountains of Tennessee and North Carolina. Late last year, Cambridge also bought 6 restaurants in Mississippi.
Cambridge Franchise Holdings was formed by Matt Perelman and Alex Sloane in partnership with Ray Meeks, a 30-year Burger King franchisee and seasoned restaurant operator. The company is led by Meeks, CEO, Tim Furr, COO, Kevin Whitton, CFO, and Joey Stewart, chief development officer. Cambridge Franchise Holdings owns and operates 85 restaurants, 5 convenience stores and real estate in Alabama, Arkansas, Louisiana, Mississippi, North Carolina, Tennessee, and Virginia.
The company says it plans continued growth in the Southeast through acquisitions and remodels of existing restaurants and development of new restaurants.