The restaurants previously owned by ERJ Dining are estimated to generate $300 million annual revenue.
Parent company of Chili’s and Maggiano’s Little Italy, Brinker International Inc. is buying back 116 Chili’s locations from ERJ Dining as reported by Nation’s Restaurant News. The current franchisee has owned the units for 14 years, and Brinker International maintains that the franchisor-franchisee relationship has been amicable.
Chief financial officer of Brinker Joe Taylor said of the purchase, "this acquisition is a compelling opportunity to further invest in our brand, broaden our scale and create growth in earnings and cash flow. We appreciate the relationship we developed with ERJ over the years and view these well-established restaurants as a solid foundation for further growth in these markets."
Applebee’s parent company also recently purchased 69 franchised locations from Raleigh, N.C.-based franchisee Apple Gold Group — perhaps a sign of more acquisitions to come.
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