BURGER KING(R) Franchisee C. H. James Completes Kenosha, Wisconsin Acquisition
Largest African American Franchisee Will Grow to 50 Stores by year end of 20
C.H. James Restaurant Holdings, LLC, announced today it has acquired four additional BURGER KING(R) restaurants in Kenosha, WI and the opening of a new BURGER KING(R) restaurant at 3167 Milwaukee Avenue in Chicago. As the largest BURGER KING(R) African American franchisee, Charles H. 'Chuck' James III, CEO of C.H. James Restaurant Holdings, now owns a total of 48 BURGER KING restaurants and plans, under a development agreement with Burger King, to open 2 more units this year bringing its total to 50 restaurants in greater Chicago, representing a 35% growth rate since inception.
BURGER KING(R) named franchisee and greater Chicago resident C. H. James III as one of nine recipients from around the world to receive the distinguished 2007 BURGER KING(R) Brand Leadership Award. The award was presented at Burger King Corporation's Global Convention in Las Vegas to an exclusive group of franchisees who have demonstrated outstanding leadership and commitment to the company and their customers.
'Chuck has delivered extraordinary results over the past year and understands what it takes to be successful in a very competitive marketplace,' said John Chidsey, CEO, Burger King Corporation. 'He represents the very best of our Burger King family and continues to deliver high-quality service and products. I am extremely proud to be able to recognize Chuck and his team on this achievement.'
C.H. James Restaurant Holdings is an affiliate of the 125 year old C.H. James & Co., which is a fourth generation family-owned business founded by James' great-grandfather in 1883 in Charleston, W. Va. C.H. James & Co. has been recognized as one of the oldest and largest African-American owned companies in the United States.
'My great-grandfather would be proud of this accomplishment as I saw a solid business opportunity and built upon that as he did back in 1883,' said Chuck James. 'The foundation my great-grandfather laid for my family is very similar to the standards Burger King was built on. C.H. James Restaurant Holdings is excited about the recent acquisition in Kenosha and our development agreement with the franchise. We look forward to continuing to grow our business with the Burger King family.'
In August 2004, James established C. H. James Restaurant Holdings, LLC in an exclusive partnership with the Goldman Sachs Urban Investment Group (UIG), which invests growth capital in ethnic minority-owned or targeted businesses and urban real estate. Kevin Jordan, Managing Director at Goldman Sachs said, 'Over the last 4 years Chuck has substantially grown his store count, revenue and profitability per unit, resulting in an outstanding return on our investment. His business acumen and leadership skills are superb, and we look forward to continuing to work with him and build upon the model he has established for further opportunities.'
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