American Fork-based Four Foods Group, a restaurant development, investment and management company, has acquired 48 Little Caesars restaurants in Alabama and Louisiana.
Announcement of acquisition caps a flurry of recent activity for Four Foods, including the purchase of the R&R Barbecue restaurant concept and its locations in Salt Lake City and the acquisition of The Soda Shop specialty soda company and its Arizona-based locations. The company currently owns 44 Kneaders restaurants. In all, the company now operates 97 restaurants in Utah, Arizona, Nevada, Colorado, Alabama and Louisiana, with 2017 annual revenues projected to exceed more than $150 million.
“This is a time of explosive growth for Four Foods Group,” said co-founder and CEO Andrew K. Smith. “I am proud of our team for setting and realizing ambitious and sometimes daunting growth goals. We have now become one of the leading restaurant concept incubators and management growth companies in America, and we are just getting started.”
“We have a deep love for the South and the hospitality, respect and work ethic that comes with southern culture,” said cofounder Shauna K. Smith. “In this case, we have a terrific brand we believe is positioned for a lot of growth in these rural areas of Alabama and Louisiana. Four Foods Group will provide the capital and management structure needed to maximize growth in these areas.”
In addition to its American Fork corporate headquarters, Four Foods has opened a second corporate office in Birmingham, Alabama, that will initially house 28 corporate employees. More than 800 additional employees will serve in the Little Caesars locations in Alabama and Louisiana.