Quaker Steak & Lube® Signs Seven-Restaurant Deal with I-10 Hospitality, LLC
Award-Winning Casual Dining Franchise to Open Locations Across TX, LA, MS, AL and FL
November 05, 2013 // Franchising.com // SHARON, PA - The Award-Winning casual-dining franchise Quaker Steak & Lube® known for its Best Wings USA and more than 25 sauces, announced today it signed an area development agreement with I-10 Hospitality, LLC to develop seven restaurants across the Interstate-10 corridor. Based in Louisiana, the I-10 Hospitality, LLC group plans to open Quaker Steak & Lube® locations in the areas of Beaumont-Port Arthur, Texas, Lake Charles, Lafayette, Baton Rouge and New Orleans, La., Biloxi-Gulfport, Miss., Mobile, Ala. and Pensacola, Fla. over the next five years.
"Lube Nation is about to get a whole lot bigger! We are thrilled to be kicking off the fourth quarter with the signing of our largest development agreement of the year," said John Longstreet, president and chief executive officer, Quaker Steak & Lube®. "Our growth this year is a true testament to our area developers, like the I-10 Hospitality group, and we look forward to continued success with them on board."
The first restaurant is projected to open in early 2014 with the remainder opening through 2018. I-10 Hospitality, LLC was formed by business partners Geno Iafrate and Keith Portie. Portie brings more than 15 years of commercial construction experience to the partnership and Iafrate brings his extensive operations and development expertise.
"This seven-restaurant agreement represents our long-term commitment to the Quaker Steak & Lube® brand," said Geno Iafrate, I-10 Hospitality’s president and chief executive officer. "We are thrilled to be expanding and growing into new markets with The Lube®."
The compelling décor, including race cars suspended from the ceilings, motorcycles, Corvettes and gas station memorabilia, combined with its craveable food and SuperCharged events, has created a cult-like following for The Lube® for more than 39 years. The company experienced significant growth in 2012 with 11 restaurant openings, a 22 percent increase from the previous year and a 13 percent increase in system wide revenues. The company has more than 60 locations across 18 states and Canada.
Most recently, Quaker Steak & Lube® was awarded the festival favorite for the second straight year at the National Buffalo Wing Festival in Buffalo, N.Y, winning the last three out of four. In addition, it was also recognized for its Triple Atomic wing sauce, winning first place in the Traditional Extra-Hot sauce category.
For more information, visit www.QuakerSteakAndLube.com. Follow The Lube® on Twitter at @TheOfficialQSL and on Facebook at The Official Quaker Steak & Lube. Join Lube Nation today by signing up for our E-mail club at http://thelube.com/qsl/email_club.html.
About Quaker Steak & Lube®
Founded in 1974 and built in an abandoned gas station in Sharon, Pa., Quaker Steak & Lube® has expanded to more than 60 locations throughout the United States and Canada. The unique décor, including gas station memorabilia, classic cars, motorcycles, race cars and corvettes suspended from the ceilings combined with the crave-able food and high-octane events has afforded The Lube® a cult-like fan following. Today, Quaker Steak & Lube® has become one of the fastest-growing restaurant chains in the country, and has won hundreds of national and international awards for its wings and more than 25 different wing sauces.
About I-10 Hospitality, LLC
I-10 Hospitality, LLC is a Louisiana based hospitality management company specializing in restaurant, hotel and gaming development, management and consulting services. Founded in 2013 by 20-year hospitality and gaming veteran, Geno M. Iafrate, President and Chief Executive Officer, I-10 Hospitality focuses on brand differentiation by deploying marketing, operational and financial expertise.
For more information about I-10 Hospitality, please visit www.i-10Hospitality.com or check out the I-10 Hospitality Facebook page at https://www.facebook.com/i10Hospitality.
SOURCE Quaker Steak & Lube®
Fish Consulting, LLC
O: (954) 893-9150
C: (561) 716-6743
Comments:comments powered by Disqus
- Expansions & Growth
- Financial & Earnings Claims
- Mergers & Acquisitions
- Personnel Changes
- General Announcements
- Conferences & Events
- Product Announcements
- Media Coverage
- Strategic Alliances