Carrols Restaurant Group, Inc. (Nasdaq:TAST) announced that on June 6, 2017, the Company completed the acquisition of Republic Foods, Inc. which operates 17 BURGER KING® restaurants in Maryland, specifically in the Baltimore and Washington markets.
Daniel T. Accordino, the Company's Chief Executive Officer said, "We are pleased to complete this transaction which we obtained through the exercise of our right of first refusal. We are excited since this acquisition provides a strategic entry point for us to further expand our presence in the mid-Atlantic region going forward. These restaurants, with average sales volumes of almost $2.0 million, are also significantly higher than our system average and should be highly accretive as we integrate them with our existing operations."
Carrols is the largest BURGER KING® franchisee in the United States with 804 restaurants as of June 12, 2017 and has operated BURGER KING® restaurants since 1976.
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