April 28, 2017
Several Alabama Little Caesars restaurants are now under new ownership.
According to Four Foods Groups, it attained 48 Little Caesars throughout Alabama and Louisiana. Four Foods Groups is a restaurant development, investment and management company that has acquired 97 restaurants in six states - Alabama, Arizona, Colorado, Louisiana, Nevada and Utah. Its projected revenues could extend $150 million.
FFG will open a second corporate in Hoover, a Birmingham suburb, to supplement its headquarters in Utah. The Hoover facility will have around 30 employees to start.
According to Andrew K. Smith, co- founder and chief executive officer of FFG, this is an amazing time for the restaurant. Smith said the company has become an industry leader for restaurant concept incubators and management growth.
"We are just getting started," he said.
The acquisition of Little Caesars comes on the heels of the R&R Barbecue restaurant concept purchase with locations throughout Salt Lake City as well as The Soda Shop and its locations in Arizona.
The company also owns and operates 44 Kneaders Bakery & Cafe restaurants.
The terms of the acquisition weren't made public. However, FFG hired W Partners Group LLC as the executive financial advisor. Financing was provided by CIT Bank N.A. and FFG partners and investors. Carman Lehnhof Israelsen, LLP served as the legal counsel.
Shauna Smith, co- founder for FFG and Alabama native, said Little Caesars' brand is well- positioned in both Louisiana and Alabama. She said FFG will offer capital and management structure to boost growth in the rural areas.