- WHITE PAPERS
Arby's Restaurant Group Inc. has announced the sale of 23 company-operated restaurants in Southern California in two separate transactions with active and growing restaurant developers.
Tony Lutfi, who purchased 42 Arby's locations and development rights in Seattle and Portland, Ore., in November 2012, continues to expand his Arby's presence on the West Coast with the acquisition of 10 Los Angeles-area restaurants. His portfolio now includes 130 restaurants, including Jack in the Box, Church's Chicken, Sizzler and Little Caesars.
In a simultaneous but separate transaction, a new Arby's franchise team of Ajay Chopra and Sunny Datta acquired 11 Arby's restaurants in San Diego and two others in the Los Angeles market. Chopra, a software entrepreneur and owner of 45 Jack in the Box franchises, joins the Arby's system for the first time.
His business partner, Datta, already operates three franchised Arby's restaurants on the West Coast.
Both of these transactions include development and remodeling commitments that will bring additional capital and add valuable scale to these markets. In the aggregate, these development plans would represent more than a 50 percen increase in the number of Arby's units these developers operate in Southern California.
"With 10 consecutive quarters of positive same-store sales and increased restaurant development, we continue to see strong momentum with our franchisees," said Paul Brown, CEO of Arby's. "Mr. Lutfi, Mr. Chopra and Mr. Datta bring the right operations and development capabilities to help us usher in an exciting era of strategic growth and development for the brand."
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