Burger King Franchisee Buys 60 Restaurants in Michigan
ATLANTA—Burger King franchise owner GPS Hospitality announced on Tuesday that it has purchased 60 Burger King branded restaurants from Team Schostak Family Restaurants for an undisclosed amount. The acquired quick service restaurants stretch from Detroit to Ann Arbor of Michigan's Lower Peninsula.
The Michigan multi-franchise acquisition marks the largest single market purchase to date for Atlanta-based GPS Hospitality. It brings franchisee GPS' total number of locations to 196. It is the third acquisition made in partnership with Nonami Investments and the Cynosure Group.
"These new restaurants mark continued growth for GPS Hospitality in the Midwest, and we look forward to bringing our brand of service and guest experience to the people of Michigan," says GPS' CEO, Tom Garrett. "TEAM Schostak is a very established and highly regarded company, and we'll continue their tradition of excellence," says Garrett. "They have a great team in place."
"Fortunately, we found a very qualified buyer in GPS Hospitality," says Team Schostak's executive chairman Mark Schostak, whose family has owned the Burger King restaurants for the last 34 years. Schostak owns franchises in Applebee's, Del Taco and MOD PIzza. "The GPS leadership team shares the same values and operational philosophies, and we are confident in their ability to continue to successfully grow and operate the Burger King brand, making this transition as seamless as possible for everyone involved."
GPS Hospitality says that by focusing on goals and bringing in strong talent in its franchise management approach, it has been able to achieve rapid growth. The firm cites that it was recognized by the Atlanta chapter of the Association for Corporate Growth as one of Georgia's fastest growing firms in 2014.