FOCUS Brands and Roark Capital Complete Purchase of Moe’s Southwest Grill

– Center-of-the-plate concept joins sister companies Carvel® Ice Cream, Cinnabon®, Schlotzsky’s®, and Seattle’s Best Coffee® International –

ATLANTA, GA (August 30, 2007) – FOCUS Brands, an Atlanta-based franchisor and affiliate of Roark Capital, announced today that certain of its subsidiaries have completed the previously announced purchase of substantially all of the assets of Moe’s Southwest Grill, a fast-casual restaurant chain with 360 locations in 34 states and the District of Columbia, from Raving Brands. Recently ranked in Restaurant Hospitality magazine as one of the “Top Ten Growth Chains That Sizzle”, Moe’s offers fresh Southwest favorites, including burritos, quesadillas, and fajitas in a fun, family-oriented atmosphere.

With the addition of its second center-of-the-plate concept in the last nine months, FOCUS Brands now has five franchise brands generating over $1 billion in annual system-wide revenues through over 10,000 points of distribution in 50 states and 32 countries. Moe’s joins sister companies Carvel Ice Cream (acquired in 2001), Cinnabon (2004), Seattle’s Best Coffee International (2004), and Schlotzsky’s (2006).

“We’re happy to welcome Moe’s into the FOCUS Brands family,” says FOCUS Brands President and CEO Steve Romaniello. “This is great brand with a bright future and tremendous growth prospects, and we look forward to the exciting days ahead.”

Raving Brands President Stephen M. LaMastra adds, “The Moe’s brand, our franchisees, and our associates are excited about their new ownership. It was the ideal time for Raving Brands to pursue a partner that can take Moe’s to the next level, both domestically and internationally, and FOCUS Brands is the ideal partner for this great brand and system.”

Further terms of the agreement were not disclosed. 

 

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