Denver & Phoenix--(BUSINESS WIRE)--Smashburger, a fast casual "better burger" concept recently launched and funded with $15 million by private equity and concept development firm Consumer Capital Partners (CCP), has secured its third franchisee and "Founders Club" member, SB Alamo Development, LLC. This latest franchise agreement brings the total number of Smashburger franchise locations to 105, as well as a 10-store joint venture, announced since October, 2008.
Based in San Antonio, SB Alamo Development, LLC principals Lawrence F. Harris, Allen J. Jones and Jason R. Kemp collectively bring over 80 years of restaurant industry experience to Smashburger with brands such as Pizza Hut, PepsiCo Foods International, Boston Market and Applebee's. In addition, Harris, Jones and Kemp currently operate 22 Buffalo Wild Wings, 30 Little Ceasers and 15 Zio's Italian Kitchens. SB Alamo Development is Smashburger's third "Founders Club" member—a designation reserved for only the first five large franchisees to join the Smashburger team. "Founders Club" members will provide valuable input on the future direction of Smashburger and will act as field counsel on critical decisions as Smashburger grows.
"It is a testament to the Smashburger management team and the strong partnership that exists with CCP that 105 franchise locations have signed on within a period of about three months," said David Prokupek, Managing Partner and Chief Investment Officer of Consumer Capital Partners. "We know that corporate growth will take us only so far in our quest to be the top 'better burger' in the country, which is why partnerships with quality franchisees like SB Alamo are critical. The talent, experience and reputation of Larry, Allen and Jason, adds further validity to the Smashburger model and will undoubtedly be a benefit in attracting additional quality franchise and joint venture partners in the future."
SB Alamo hopes to have its first location in operation in San Antonio no later than April, 2009 and all 45 of its stores opened over the next eight years. The new location in San Antonio will complement Smashburger's current corporate footprint of ten stores in Denver, Wichita and Houston, as well as 70 locations under development in Texas, Kansas, New Jersey, Colorado, Oklahoma and South Dakota.
"After a long search for the best 'better burger' concept in the nation, coupled with the backing and demonstrated success of industry veterans, we found that and much more in Smashburger," said Harris, CEO of SB Alamo Development, LLC. "As restaurant developers, we saw early on the great potential success of Buffalo Wild Wings when that brand was in its infancy, and we see all the same attributes in Smashburger. We are thrilled to be in on the ground floor with the next biggest success in the restaurant industry, and we look forward to bringing Texas and New Mexico the best burger they've ever tasted."
"SB Alamo's track record of success speaks for itself," said Scott Crane, President of Smashburger. "Their demonstrated vision and operational excellence has made them a top franchise company in the country and they will undoubtedly benefit the entire Smashburger system. We look forward to working with them to establish Smashburger as San Antonio, Austin, West Texas and New Mexico's favorite burger place."
Headquartered in Denver, Colo., Smashburger has a singular focus--to become the national leader in the "better burger" category, which is the fastest growing segment of the $100B burger market. The plan to reach that goal is simple--offer the best burger you've ever tasted and become every city's favorite burger place. Developed and owned by private equity and concept development firm Consumer Capital Partners, Smashburger will expand to 30-60 locations by the end of 2009 and ultimately grow to 500 locations in 30 markets. There are currently ten restaurants across the Denver area, Wichita and Houston with an additional 115 franchise and joint venture locations under development in Texas, Kansas, Oklahoma, New Mexico, New Jersey, South Dakota and Colorado. If you crave a better burger, keep watching for Smashburger – coming to your community soon. To learn more about building a better burger, please visit www.mysmashburger.com.
Headquartered in Denver, Colo., Consumer Capital Partners is an innovative private investment, concept development and strategic advisory firm focused on multi-unit retail businesses, primarily in the restaurant, liquor, food and leisure industries. Consumer Capital Partners has deep experience in the fields of private equity, brand, concept and product development, and strategic consulting.