FLORENCE, S.C.–(BUSINESS WIRE)–Guernsey Holdings, LLC, a holding company that owns and operates a diversified portfolio of consumer-facing franchised businesses, today announced the acquisition of 20 Zaxby’s restaurants located throughout South Carolina. National Franchise Sales, Inc., the preeminent M&A firm for franchise restaurant resales in the U.S., represented Performance Management Group (“PMG”) on its sale of the restaurants.
Guernsey partnered with existing management, Candice Anderson and Chad Ham, to acquire the restaurants from licensees Jim and Britt Poston, who started the business 27 years ago. “We are excited to partner with the talented PMG management team and an exceptional group of employees,” said Mike James, Founder & CEO of Guernsey Holdings. “We have particular expertise in building multi-unit franchised restaurant platforms and then driving growth. We look forward to leveraging that experience to continue Zaxby’s success.”
“Guernsey has a proven track record of helping companies build long-term value,” said Candice Anderson, VP of Administration. “In recent years, we have made meaningful progress that has resulted in above average same-store sales growth. With Guernsey as our partner, we look forward to accelerating this trend.”
Zaxby’s is one of the largest quick service restaurant brands specializing in chicken in the U.S. with over $2.4 billion in system-wide sales and 922 restaurants. Established more than 30 years ago, Zaxby’s specializes in flavorful sauces, chicken wings, chicken fingers, sandwiches, and salads. The Zaxby’s concept is based on a focused menu selection, value pricing, and an emphasis on drive-thru business.
About Guernsey Holdings
Guernsey Holdings, LLC is a private holding company that owns and operates a diversified portfolio of consumer-facing franchised businesses. Guernsey has owned and operated franchises within the Sonic Drive-In, Zaxby’s, Little Caesars, 7 Brew, Meineke, and Take 5 Oil Change brands. For additional information on Guernsey, please visit www.guernseyholdings.com.
About Performance Management Group
Performance Management Group was one of the original licensees in the Zaxby’s brand in 1997 and was considered by corporate as one of the premier operators within the Zaxby’s system. Founders Jim and Britt Poston built great restaurants and a top-notch team and never missed opportunities to provide guidance and support for fellow licensees. Their guest-focused mission, talent development, operational excellence, and drive to constantly improve made them a leader within the brand.
About National Franchise Sales
An industry leader in the resale of franchise restaurants for franchisees and Franchisors, NFS was founded in 1978 handling resales across the U.S. NFS has offices in CA, WA, TX, NC and FL and its team of twenty-five professionals focuses solely on this specialized niche. A collective 500+ years of franchise restaurant experience stems from extensive M&A activity at NFS, multi-unit restaurant franchisees, and C-Suite seats with Franchisors. Mid-market and growth-oriented franchisee groups that sometimes started with a single restaurant, or small group acquisition have looked to NFS for almost 50 years to advise and assist in the development and grooming of their portfolios, many of which have led to becoming some of the largest operators in the franchise restaurant segment.
Contacts
Will Manderscheid
wm@guernseyholdings.com
(301) 529-5922
