Togo’s Announces Acquisition
Togo’s Announces Acquisition of 13 Restaurants from Company Founder
Togo’s Eateries, Inc., a “West Coast Original” since 1971, announced today it has completed the acquisition of 13 franchised restaurants in the East Bay and San Jose areas from company founder Mike Cobler. The acquisition brings Togo’s company-owned restaurants to 19 units in California.
“This recent acquisition is part of our long-term growth strategy and reflects our company’s commitment to operational excellence,” said Tony Gioia, chairman and CEO of Togo’s Holdings, LLC. “Togo’s newly acquired restaurants will provide a larger platform for testing new products and operating systems.
The locations will also offer additional resources to support training for new franchisees, management and crew for future grand openings.”
Togo’s, which has more than 320 restaurants open and under development throughout the West, has experienced four consecutive years of same-store sales increases. Last year, the company launched a multi-unit franchise development incentive program to drive expansion in key growth markets. Both new and existing franchisees who sign a new agreement for three or more locations will receive reduced royalty fees for the first two years for each new restaurant that is developed in Washington, Oregon, Idaho, Utah, Colorado, Nevada and Arizona.
For more information visit: www.togosfranchise.com