| New Growth Plans At Salsarita's |
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Salsarita's Announces Expansion Plans
A week after the announcement that he’d acquired Salsarita’s Fresh Cantina, former McAlister’s Deli CEO Phil Friedman says his plan for the fast casual is to saturate its existing markets. Friedman says his strategy is to “exploit” Salsarita’s presence in the Southeastern U.S., where the majority of the chain’s 80 stores are located. “We want to create even greater brand awareness and brand commitment in our existing markets,” says Friedman, who purchased Salsarita’s from founder Bruce Willette for an undisclosed amount. An industry veteran, Friedman has a reputation for big brand expansion, having grown McAlister’s from 27 to 300 restaurants during his tenure. After leaving McAlister’s in 2010, Friedman formed an acquisition company and began searching for opportunities in the fast-casual sector. “I started to get the word out that I was looking for small franchise chains, preferably with the founder in place, that needed a sense of professional experience and leadership skills to take what had been developed and really exploit it,” he says. In Salsarita’s, Friedman says he found his “prototype acquisition”—a young franchise company that was established in several markets but seemed to need the guidance of experience to reach its potential. Despite the high level of competition it faces from other fast-casual Mexican chains like Chipotle and Moe’s Southwest Grill, Friedman says Salsarita’s category, brand, and clientele all made it an appealing acquisition. — QSR (Read Full Article) |
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