May 25, 2017 // Franchising.com // REDDING, Calif. - Black Bear Diner, an award-winning family dining concept headquartered in Redding, California, announced today that it has signed lease agreements for new restaurants in Katy, Texas and Midwest City, Oklahoma. The new lease agreements in Oklahoma and Texas mark the first step towards eastward expansion for the rapidly expanding chain.
“This is an important marker for the growth and expansion of our brand as we transition from a regional chain to a national one,” said Bruce Dean, chief executive officer of Black Bear Diner. “We are excited to introduce Texas and Oklahoma to our comfort food classics, personal service and homey atmosphere, and use our success in these markets as a springboard for additional growth in these markets and beyond.”
Black Bear Diner, recognized as the third fastest growing full-service restaurant chain in the 2017 Technomic Top 500 Report, recently secured an investment from PWP Growth Equity, a private equity fund affiliated with Perella Weinberg Partners that invests in leading, growth-oriented lower middle market companies. The partnership with PWP Growth Equity has positioned Black Bear Diner for sustained growth and continued expansion eastward.
Black Bear Diner’s growth is being fueled by a mix of new and existing franchisees in existing markets, as well as corporate stores in newer markets. Black Bear Diner saw a 16.2 increase in units from 2015 to 2016. This year, Black Bear Diner is on track to open up 24 new units, including their 100th restaurant in the third quarter.
Founded in Mt. Shasta, California in 1995, Black Bear Diner was born from a desire to bring home-style comfort food classics and personal service back to the dining experience. The family dining concept offers a vast menu anchored on hearty portions and excellent value. The franchise has grown to 95 locations in eight western states and is consistently recognized as one of the fastest growing concepts by industry observers. For more information, please visit www.BlackBearDiner.com.
SOURCE Black Bear Diner