LAS VEGAS --(BUSINESS WIRE)-- Smashburger, a fast-casual, "better burger" restaurant concept launched and funded with $15 million from private equity and concept development firm Consumer Capital Partners (CCP), has signed an agreement with SB Las Vegas, LLC, to operate 20 restaurants in the Las Vegas metro area, as well as St. George and Cedar City, Utah.
Known for the cooking method used to create the perfect burger, Smashburgers are either a one-third or half-pound ball of 100-percent Angus beef—fresh, not frozen—smashed, seared and seasoned on a flat grill. To further the "better burger" experience, Smashburgers are served on butter-toasted artisan buns and topped with a selection of real cheeses, the freshest produce and top-quality condiments.
"We are excited to work with Kim and Jerry Gunderson and their experienced team at SB Las Vegas, LLC to introduce Smashburger to this market," stated Dave Prokupek, Smashburger chairman and managing partner of CCP. "Las Vegas is a natural fit for Smashburger, as burger lovers from across the globe visit the premier Entertainment Capital of the World seeking great tasting food and a fun atmosphere."
The SB Las Vegas, LLC deal adds another state to Smashburger's national presence and brings the total number of franchises to more than 220. With a combination of corporate, franchise and joint venture partnerships, Smashburger has created a strategy that allows the Denver-based company to grow quickly without affecting its core consumer promise of a "better-burger" value that maximizes guests' time and dining experience.
"Burgers are America's favorite food, and after having tasted a Smashburger my husband and I were determined to bring the concept to Las Vegas," said Kim Gunderson, SB Las Vegas LLC executive vice president of finance and marketing. "The Smashburger team has a proven track record for opening and operating successful restaurants and keeping their customers satisfied. We are confident that our partnership with Smashburger will result in a jackpot experience for burger enthusiasts in Las Vegas and southwestern Utah."
Denver, Colorado-based Smashburger is a fast-casual restaurant designed to be every city's favorite burger place. Developed and owned by private equity and concept-development firm Consumer Capital Partners (CCP), Smashburger develops both company and joint-venture partner stores. The company has sold franchise agreements that will total more than 200 locations over the next five years. The company, joint venture and franchise development deals are part of Smashburger's plan to open 500 plus restaurants across the country, 30 to 60 in 2009. Smashburger was named a 2009 Hot Concepts! award winner by Nation's Restaurant News.
Denver-based Consumer Capital Partners (CCP) is an innovative private investment and concept development firm focused on multi-unit retail businesses, primarily in the restaurant, liquor, food, and leisure industries. CCP has deep experience in the fields of private equity, brand, concept and product development, and strategic consulting.