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Captain D's has announced its acquisition of Grandy's, a 65-unit breakfast, lunch and dinner chain based out of Dallas.
The move comes as Phil Greifeld, CEO and president, tries to strengthen Captain D's brand portfolio.
"Our heightened execution throughout 2011 has enabled us to significantly invest in the future of our D's business," he said. "Our company-wide operating diligence during the past year has also provided us with the financial flexibility to purchase the Grandy's chain."
Grandy's Country Cookin' is a homestyle and comfort food restaurant chain known for its freshly prepared meals. Grandy's specializes in hearty, country breakfasts, while its lunch and dinner menus feature hand-battered fried chicken, country fried steaks, catfish and homestyle vegetables complemented by fresh-baked biscuits, dinner rolls and the popular Sinnamon rolls. Grandy's has both a dine-in and drive-thru business format.
Grandy's will be operated as a separate subsidiary of Captain D's and the Grandy's executive team will continue in their respective roles. Greifeld will assume the CEO role of Grandy's while also maintaining his role for Captain D's.
The acquisition comes on the heels of a strong year for Captain D's, under new executive leadership. The chain, headquartered in Nashville, Tenn., owns, operates and franchises 527 restaurants in 25 states.
New AOR named
Additionally, this week Captain D's has named a new agency. According to Ad Week, Dallas-based TM Advertising has replaced Zimmerman, which resigned the business in August citing creative differences.
The split seemed particularly contentious between the agency and then-CMO Monte Jump, who joined Captain D's in April and left in November.
Jonathan Muhtar, former vice president of global marketing and innovation for Burger King, was named CMO in December.
The chain's media budget is between $7 million and $10 million. TM Advertising beat out Barkley, based out of Kansas City, Mo.; Brunner, out of Pittsburgh; and The Buntin Group from Nashville.
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