May 27, 2015
CARROLLTON, Texas, May 27, 2015 /PRNewswire/ — Today TGI FridaysSM announced it has completed two separate transactions that will transition 32 company-owned Florida restaurants to franchise-owned locations.
The 16 FridaysSM restaurants in the Miami and Ft. Lauderdale area have been purchased by existing FridaysSM franchise partner Jackmont Hospitality, Inc. (“Jackmont”), and the 16 restaurants in Orlando have been purchased by JIB Management, Inc. (“JIB”), a new franchise partner for FridaysSM. Together, these two transactions keep FridaysSM on track to refranchise nearly all of its corporate-owned restaurants this year.
Jackmont, a veteran FridaysSM franchise partner for more than 20 years, doubles their FridaysSM portfolio with the purchase of the 16 Florida locations and two additional locations in Charlotte, NC. Since first joining the FridaysSM family, Jackmont has successfully owned and operated some of FridaysSM highest performing stores.
“We are extremely pleased to expand our investment in TGI FridaysSM,” said Jackmont CEO Daniel Halpern. “We’ve had great success operating FridaysSM restaurants for two decades, and our confidence in the future of the brand made this a great step forward.”
JIB is an experienced franchisee, who brings with them decades of experience owning and operating the more than 300 restaurants in their current portfolio.
“We could not be more excited to begin this partnership with the FridaysSM team,” JIB President & CEO Anil Yadav remarked. “We see significant potential in the brand, and we look forward to helping further build FridaysSM in the markets where we will operate.”
“As we continue our refranchising journey, we are very pleased to have the opportunity to grow existing partnerships and to bring new franchise partners on board,” said Ricky Richardson, President and Chief Operating Officer, TGI FridaysSM USA. “Jackmont and JIB are strong franchisees who have proven track records and share our passion for people. We look forward to working closely with them as we continue to grow and strengthen the FridaysSM brand.”
Underscoring Jackmont and JIB’s commitment to the FridaysSM brand, both companies’ agreements include plans to reimage a significant number of their acquired restaurants and to open new FridaysSM restaurants in their markets.
About TGI FridaysSM
As the original casual dining bar and grill, TGI FridaysSM offers authentic American food and legendary drinks, served with genuine personal service. Bringing people together to socialize and celebrate the freeing and liberating spirit of “Friday” was the concept’s founding premise, from which the brand promise “In Here, It’s Always Friday®” was born. To share that social FridaysSM experience all over the world, TGI FridaysSM proudly serves guests with over 900 restaurants in nearly 60 countries. For more information, visit www.fridays.com or follow us on Twitter at @TGIFridays.
About Jackmont Hospitality, Inc.
Jackmont Hospitality is an award-winning, minority-owned foodservice management company and one of the fastest growing TGI FridaysSM franchisees. Additionally, Jackmont oversees on-site foodservice management contracts throughout the U.S. for airport concessions, healthcare foodservice and school district dining programs.
About JIB Management
JIB Management is a strong, highly-respected foodservice management company who owns and operates more than 300 restaurants across California, Texas, and the Southeast U.S. Currently, JIB owns and operates about 220 Jack in the Box restaurants – Jack in the Box’s largest franchisee, and a brand JIB has been with since 1989. They also have 71 Denny’s (and are the largest Denny’s franchisee in California), 4 Sizzler’s, 5 Corner Bakery and 6 El Pollo Loco restaurants.