UPDATE: This story has been updated to include same-store sales figures for some Brix concepts.
Brix Holdings, the owner of Friendly’s, Clean Juice and other restaurant brands, has been acquired by a Friendly’s franchisee.
Legacy Brands International operates more than 30 Friendly’s on the East Coast, or about a third of the chain. It will take over Dallas-based Brix, which has more than 250 locations across Friendly’s, Clean Juice, Orange Leaf, Red Mango, Smoothie Factory + Kitchen, Souper Salad, and Humble Donut Co.
Terms of the deal were not disclosed. Legacy owner Amol Kohli will become chairman of Brix, and the Brix leadership team, including CEO Sherif Mityas, will remain in place. Brix’s majority owner JAMCO Interests will also remain involved as an investor in Legacy Brands. (more…)
Brix Holdings — the 250-unit parent company to Friendly’s Restaurants, Clean Juice, Red Mango, and Orange Leaf — has been acquired by Legacy Brands International, an investment group managed by multi-unit Friendly’s franchisee, Amol Kohli.
As part of the transaction, which was finalized by the now-former owner, Jamco Interests, for an undisclosed sum, Brix will remain headquartered in Dallas and will continue to be led by the existing leadership team, including CEO Sherif Mityas. Kohli will continue to manage his 30 franchised locations and will join the Brix board as chairman.
“Amol is the ideal candidate for ownership of Brix Holdings; he has a long history of success and dedication to Friendly’s,” John Antioco, managing member of Jamco Interests, said in a statement. “His broad experience in the restaurant industry and in-depth understanding of multi-brand franchising systems and development will contribute greatly to the continued growth of the BRIX brands and its franchisees.”
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