DOCSLIB.ORG

MEMORANDUM 891 US-31, Whiteland, Indiana 46184 Confidentiality and Disclaimer

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
MEMORANDUM 891 US-31, Whiteland, Indiana 46184 Confidentiality and Disclaimer BURGER KING SALE-LEASEBACK OFFERING Representative Photo MEMORANDUM 891 US-31, Whiteland, Indiana 46184 Confidentiality and Disclaimer Marcus & Millichap hereby advises all guarantee of future success. Similarly, the thorough due diligence investigation. prospective purchasers of Net Leased lease rate for some properties, including Marcus & Millichap has not made any property as follows: newly-constructed facilities or newly- investigation, and makes no warranty or Table of Contents acquired locations, may be set based on a representation, with respect to the income The information contained in this tenant’s projected sales with little or no or expenses for the subject property, the Marketing Brochure has been obtained record of actual performance, or future projected financial performance of Investment Overview. 3 from sources we believe to be reliable. comparable rents for the area. Returns are the property, the size and square footage However, Marcus & Millichap has not and not guaranteed; the tenant and any of the property and improvements, the Investment Highlights. 4 will not verify any of this information, nor guarantors may fail to pay the lease rent presence or absence of contaminating has Marcus & Millichap conducted any or property taxes, or may fail to comply substances, PCB’s or asbestos, the investigation regarding these matters. with other material terms of the lease; compliance with State and Federal Financial Analysis. 5 Marcus & Millichap makes no guarantee, cash flow may be interrupted in part or in regulations, the physical condition of the warranty or representation whatsoever whole due to market, economic, improvements thereon, or the financial about the accuracy or completeness of environmental or other conditions. condition or business prospects of any Concept & Guarantor Overview. 6 any information provided. Regardless of tenant history and lease tenant, or any tenant’s plans or intentions guarantees, Buyer is responsible for to continue its occupancy of the subject As the Buyer of a net leased property, it is conducting his/her own investigation of all property. The information contained in this In Recent News: Merger Details. 7 the Buyer’s responsibility to independently matters affecting the intrinsic value of the Marketing Brochure has been obtained confirm the accuracy and completeness of property and the value of any long-term from sources we believe to be reliable; Surrounding Area. 8 all material information before completing lease, including the likelihood of locating a however, Marcus & Millichap has not any purchase. This Marketing Brochure is replacement tenant if the current tenant verified, and will not verify, any of the not a substitute for your thorough due should default or abandon the property, information contained herein, nor has Location Overview. 9 diligence investigation of this investment and the lease terms that Buyer may be Marcus & Millichap conducted any opportunity. Marcus & Millichap expressly able to negotiate with a potential investigation regarding these matters and denies any obligation to conduct a due replacement tenant considering the makes no warranty or representation Regional Map. 10 diligence examination of this Property for location of the property, and Buyer’s legal whatsoever regarding the accuracy or Buyer. ability to make alternate use of the completeness of the information provided. Demographics. 11 property. All potential buyers must take appropriate Any projections, opinions, assumptions or By accepting this Marketing Brochure you measures to verify all of the information estimates used in this Marketing Brochure agree to release Marcus & Millichap Real set forth herein. Market Overview. 12 are for example only and do not represent Estate Investment Services and hold it the current or future performance of this harmless from any kind of claim, cost, NON-ENDORSEMENT NOTICE property. The value of a net leased expense, or liability arising out of your property to you depends on factors that investigation and/or purchase of this net Marcus & Millichap Real Estate Investment should be evaluated by you and your tax, leased property. Services, Inc. (“M&M”) is not affiliated with, financial and legal advisors. sponsored by, or endorsed by any CONFIDENTIALITY AND DISCLAIMER commercial tenant or lessee identified in Buyer and Buyer’s tax, financial, legal, and this marketing package. The presence of construction advisors should conduct a The information contained in the following any corporation’s logo or name is not careful, independent investigation of any Marketing Brochure is proprietary and intended to indicate or imply affiliation with, net leased property to determine to your strictly confidential. It is intended to be or sponsorship or endorsement by, said satisfaction with the suitability of the reviewed only by the party receiving it from corporation of M&M, its affiliates or property for your needs. Marcus & Millichap and should not be subsidiaries, or any agent, product, made available to any other person or service, or commercial listing of M&M, and Like all real estate investments, this entity without the written consent of is solely included for the purpose of investment carries significant risks. Buyer Marcus & Millichap. This Marketing providing tenant lessee information about and Buyer’s legal and financial advisors Brochure has been prepared to provide this listing to prospective customers. must request and carefully review all legal summary, unverified information to and financial documents related to the prospective purchasers, and to establish ALL PROPERTY SHOWINGS ARE BY 891 US-31, Whiteland, Indiana property and tenant. While the tenant’s only a preliminary level of interest in the APPOINTMENT ONLY. PLEASE past performance at this or other locations subject property. The information CONSULT YOUR MARCUS & MILLICHAP is an important consideration, it is not a contained herein is not a substitute for a AGENT FOR MORE DETAILS. Representative Photo INVESTMENT SUMMARY Marcus & Millichap is pleased to present this exclusive listing for a Burger King located at 100 Mortown Way in Shelbyville, KY. Built in 2018, the subject property consists of roughly 2,704 square feet of building space on approximately a 1.35 acre parcel. This investment opportunity is subject to a brand new 20-year Triple- Net (NNN) sale-leaseback with zero landlord responsibilities. The lease will commence upon the close of escrow and will be subject to six (6), five (5) year tenant renewal options. The initial annual rent will be $117,000 and is scheduled to increase by one percent (1.00%) annually starting in year 11 and continuing throughout the base term and option periods. In each option period the rent will increase by one percent (1.00%) annually in years 1 through 3 and the rent will remain flat in years 4 and 5. The lease will be guaranteed by New CFH, LLC, a wholly owned subsidiary of Carrols Restaurant Group, Inc. New CFH, LLC is currently a 230-unit entity. The subject property benefits from being well-positioned in a dense retail corridor consisting of national and local tenants, and academic institutions all within close proximity of this property. Major national tenants include: CVS Pharmacy, Dollar General, Advance Auto Parts, Taco Bell, Hardee’s, Subway, Dairy Queen, Marathon Gas, Circle K, as well as many others. This Burger King also benefits from it’s close proximity to several academic institutions. The most notable are Whiteland Community High School and Whiteland Elementary School, which boasts a combined enrollment exceeding 2,275 students, and are situated less than a quarter mile from the subject property. Additionally, this Burger King property is located less than 20 miles from downtown Indianapolis. Indiana University – Purdue University Indianapolis (IUPUI), has a total enrollment exceeding 30,000 students. New CFH, LLC (“NCFH”) is a 230-Unit entity, and wholly owned subsidiary of Carrols Restaurant Group, Inc. NCFH currently operates 165 Burger King restaurants under Nashville Quality, LLC as well as 58 Popeyes locations under Frayser Quality, LLC. NCFH acquired Carolina Quality, LLC (“CQL”) in 2014 as a platform to execute a growth strategy in the Burger King system. At the time of the acquisition, CQL was a Burger King franchisee operating 22 restaurants across five states. Since the acquisition NCFH has grown the business significantly and currently operates in states such as Alabama, Arkansas, Indiana, Kentucky, Louisiana, Mississippi, North Carolina, Tennessee, and Virginia. Investment Highlights PRICE: $1,250,000 | CAP: 6.00% | RENT: $75,000 About the Investment ✓ Brand New 20-Year Sale-Leaseback ✓ Triple Net (NNN) Lease with Zero Landlord Responsibilities ✓ Attractive Rental Increases of One Percent (1.0%) Annually Beginning in Year 11 ✓ Six (6) Tenant Renewal Periods of Five (5) Years Each About the Location ✓ Dense Retail Corridor | CVS Pharmacy, Dollar General, Advance Auto Parts, Taco Bell, Hardee’s, Subway, Dairy Queen, and Many More ✓ Strong Academic Presence | Combined Total Enrollment Exceeding 2,275 Students Within a 0.25-Mile Radius ✓ Strong Traffic Counts | Average Daily Traffic Counts Exceeding 32,000 Along US-31, Respectively ✓ Compelling Location Fundamentals | Less than 20 Miles From Downtown Indianapolis About the Tenant / Brand ✓ Tenant on the Lease is Nashville Quality, LLC | Operates 165 Burger Kings and Rapidly Growing ✓ Lease Guaranteed by New CFH, LLC | 230-Unit Entity | New CFH, LLC is a wholly owned subsidiary
Load more

Recommended publications
  • Will the Real Please Stand
    The meaty tale of how a rogue Alberta burger chain came to be and why its fiercely independent owners can’t agree on anything—all of WILL THE REAL which may be moot as Burger Barons dwindle in small towns and BURGER BARON fast-food tastes evolve. written by OMAR MOUALLEM across Canada—possibly the world. These faux Bar- scalding dishwasher water, and why, for most of my THE BURGER ons have suspiciously similar menus and flavours, but life, I was fat. By 17, I was 210 pounds and one of the comes to me with a sauce as grey as Campbell’s operate under different names, like Angel’s Drive-In shortest guys in my graduation photo. My vice was PLEASE STAND UP? Mushroom Soup squeezing from the bun’s outer in Calgary and Burger Palace in Olds. And they, too, the Burger Baron mushroom burger. edges, down two juicy beef patties and onto a are Lebanese-owned. Always cooked to order, the patty never spent a moat of steaming, seasoned french fries. It’s my Zouhier Kamaleddine, who runs a Carstairs second under a warmer. It was crispy on the outside, fourth today. Burger Baron drive-thru with his family, likens it to succulent in the middle, and decorated with a slice Driving down the QE II toward Calgary, I the Mafia, though that would give them the credit of real cheddar, sautéed mushrooms and the pièce de stopped in Lacombe, Sundre, Carstairs and Oko- of being organized, which they’re not. None of résistance—mushroom sauce. By my calculations, I toks to enjoy my old staple and meet the people them seem to know who the original Baron is, nor ate about 1,500 of them between teething and leav- who still make them.
    [Show full text]
  • Restaurant Portfolio Investment Opportunity
    RESTAURANT PORTFOLIO INVESTMENT OPPORTUNITY Burger King | Pontiac, MI Hardees | Columbia, SC Long John Silver’s | Cincinnati, OH Raising Cane’s | Blue Springs, MO Net Lease Restaurant Portfolio – Four Triple Net Lease Properties Available on an Individual or Portfolio Basis DISCLAIMER STATEMENT DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. STATEMENT: It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NET LEASE INVESTMENT OFFERING PORTFOLIO OVERVIEW
    [Show full text]
  • Restaurant Quarterly Update
    Restaurant Quarterly Update F a l l 2 0 1 8 1 Restaurant MonthlyQuarterly Update Update | January| Fall 2018 2018 KEY Market Update INFORMATION ( 1 ) September restaurant survey data indicated a 1.2% improvement in same-store sales (SSS), while the third quarter had an overall increase in SSS of 1.2%. This quarterly result represents the strongest sales growth rates for restaurants in the past three years and is the first quarter since the fourth quarter of 2015 in which all three consecutive months were positive. September SSS grew by 1.2%, while comparable traffic fell by Even though the industry appeared stronger due to hurricanes in Texas 1.4% and Florida in the previous year, sales growth was impressive across the entire country. All geographic regions reported positive sales growth throughout both September and the third quarter as a whole, with 76% of all designated market areas (“DMAs”) posting positive growth. Average guest checks are up 2.9% in 2018 vs. 2.2% for the same Although the industry generated positive sales growth, restaurants period last year, helping to mitigate experienced a 1.4% decline in same-store traffic in September. While the drop in traffic this is an improvement from earlier in the year, it still indicates that restaurants are likely far from a true long-term recovery. Even though the third quarter experienced a 1.3% decline in same-store traffic, this represented the best quarterly result in the past three years. Job growth among chain restaurants has accelerated in Even as sales hint at a recovery, the reality is that restaurants opened recent months, with the number of for more than one year continue to lose guests.
    [Show full text]
  • Dunkin' Brands 2019 Annual Report
    Dear Valued Shareholders, For more than 70 years, Dunkin’ has been at the heart of the communities we serve, keeping America running. We take a lot of pride in being part of our guests’ everyday routine. As the world navigates the global health challenges and seismic changes that will likely come as a result of COVID-19, it is essential for us to be there for our guests when they need us most – and to be their place of comfort during all of this uncertainty. We are grateful for the dedication Our results were a combination DUNKIN’ AND of our franchisees and crew of many things – starting with BASKIN-ROBBINS members, who make our brands outstanding execution of our stand tall every day. Together, segment plans and our continued WERE RANKED we are on a journey to evolve focus on delivering for customers. #1 AND #13 BRANDS and transform our brands Our recent strategic investments – IN THE 2020 to be more relevant for our including our espresso and digital FRANCHISE 500 customers – through a focus on platforms – are driving topline ISSUE OF menu innovation with broader results and delivering a better consumer appeal, reimagining the guest experience. Our asset-light, ENTREPRENEUR restaurant experience, growing 100-percent franchised business MAGAZINE our digital and delivery platforms, model continues to deliver strong and integrating both brands into flow through, and we are proud modern culture. of our collaborative relationships with our nearly 2,000 franchisee As we navigate the unchartered and licensee partners around the waters ahead, we will stay true to world.
    [Show full text]
  • CASE STUDY Burger King
    CASE STUDY Burger King / This article appeared in Contagous issue Eighteen. Contagous is an intelligence resource for the global marketing communiy focusing on non-tradiional media and emergng technologes www.contagiousmagazine.com For more information please contac Harry Gayner on +44 (0) 20 7575 1822 or [email protected] 1st Page Case Study.indd 1 5/3/09 14:56:57 case study / burger king / RENAISSANCE MAN BK.indd 2 8/3/09 15:45:39 contagious 70 / 71 CASE STUDY / BURGER KING / RENAISSANCE MAN / YOU DON’T HAVE TO BE A BABY BOOMER TO REMEMBER A TIME WHEN MCDONALD’S NOT ONLY DOMINATED THE FAST FOOD MARKET IN REVENUE, BUT ALSO IN MARKETING. RARE FOR A CHALLENGER BRAND, BURGER KING STRUGGLED WITH THE BURDEN OF BEING MORE KNOWN THAN LOVED. FAST FORWARD TO THE PRESENT, AND THE LANDSCAPE IS VERY DIFFERENT INDEED. THROUGH A CLOSE RELATIONSHIP WITH AGENCIES INCLUDING CRISPIN PORTER + BOGUSKY, THE PERENNIAL SECOND PLACE FINISHER IS FINALLY HAVING THINGS ITS OWN WAY / BY JESS GREENWOOD / BK.indd 3 8/3/09 15:45:41 case study / burger king / ‘We bore all the hallmark signs of a troubled company,’ reflects Burger King’s chief marketing officer Russ Klein as he reluctantly recalls 2003. Back then, the Burger King Corporation was struggling following seven straight years of sales decline, having been sold anthropological research. ‘The science of how we got off by parent company Diageo the previous year to a there is sound,’ says Klein. ‘There’s a more potent set triumvirate of private equity firms. Footfall had dropped of imagery around our brand identity than other names by 22%, yet the fast food industry as a whole was in our space.
    [Show full text]
  • Wendy's International, Inc
    Wendy’s International, Inc. John Barker SVP Corporate Affairs & Investor Relations June 9, 2008 Today’s Presentation Wendy’s Overview Activist investors: A case history… the last 3 years Wendy’s & Triarc Merger 2 Corporate Affairs Department Overview Strategic Planning Public Relations Meetings / Event Planning Community Relations Investor & Shareholder Relations Dave’s Legacy (financial disclosure) Oversee Wendy’s Major Events All major public disclosures Wendy’s International Internal Communications Foundation (System) Dave Thomas Foundation for Government Relations & Wendy’s Adoption Political Action Committee (PAC) Corporate & Investor website Issues Management Graphic Design for restaurants Crisis Management and system projects Consumer Communications & PR Services – A/V support Consumer Relations 3 Corporate Affairs Department CEO & President CEO & President *Wendy’s 3-Tour Challenge, High School Heisman, KeKerriirii And Andeersrsonon Home for the Holidays Senior VP Exec Asst Senior VP Corp Affairs & IR Michelle Lemmon Corp Affairs & IR JoJohnhn Ba Barkrkeerr Dave Thomas DirectDirectoorr DirectDirectoorr VPVP Public Public Affairs Affairs & & SVSVPP Foundation IRIR & & Financial Financial CoConsumernsumer & & PR PR IssueIssue M Maananagemengement t CommuCommunicationsnications MediaMedia Relat Relationsions CommuCommunicationsnications *Special MaryMary Sc Schelhell l DenDennyny Lynch Lynch OpOpeenn BoBobb Bert Bertiniini Events (Mktg) Mgr. IR and Strat Planning Analysis Director Govt Manager Manager Dir. System Dir. Sys Comms Project Mgr. Events Mgmt Kim Messner Relations Comms Internal Comms Comms Improvement & PAC Mgr. Planner Kevin Lundy Kitty Munger Open Tom Clemens Gary Talbott Mary Fry Joel Nepa Mgr. Shareholder Relations & Admin Asst Media Enterprise Disclosure Open Supv. Consumer Editorial Svcs Mgr. Media Producer Wal Ozello Marsha Gordon Relations Consultant Production Jane Frazier Jeff Nastali Brian Rolston Spec.
    [Show full text]
  • Local Restaurants
    Local Restaurants Deli, Café, Coffee, ice Cream Chipotle Chelley Belly 1710 Columbus Pike 740-369-6360 59 N. Sandusky Street 740-369-5792 Kentucky Fried Chicken Choffey’s Coffee & Confection 134 S. Sandusky Street 740-362-9583 17 W. Winter Street 740-417-9406 Long John Silver’s Dairy Depot 1165 Columbus Pike 740-363-2942 390 N. Sandusky Street 740-363-5297 Mc Donald’s Jimmy John’s 279 S. Sandusky Street 740-363-1713 47 N. Sandusky Street 740-362-0111 Taco Bell Ollie’s Fine Ice Cream 1167 S. Sandusky Street 740-369-0138 19 S. Franklin Street 740-363-6554 Tim Hortons/Cold Stone Creamery Orange Leaf 89 W. Williams Street 740-362-3203 24 Troy Road 740-362-1855 Victor’s Taco Shop Panera 186 S. Sandusky Street 740-362-8000 750 W. Central Avenue 740-362-1001 Wendy’s Something Sweet Coffee & Bakery 185 S. Sandusky Street 740-369-3332 2 N. Sandusky Street 740-369-5282 Pizza Starbucks 1740 Columbus Pike 740-362-1338 Amato’s Woodfired Pizza (no delivery) 8 S. Sandusky Street 740-369-8797 Subway 16 S. Sandusky Street 740-369-7827 Delco Pizza 523 Pennsylvania Avenue 740-363-0033 Whit’s Frozen Custard 31 N. Sandusky Street 740-362-0715 Domino’s Pizza 90 W. William Street 740-363-9824 Fast Food Donato’s Pizza Arby’s 122 S. Sandusky Street 740-362-0682 216 S. Sandusky Street 740-417-8113 Gabby’s Place Pizza and Subs Burger King 3120 Olentangy River Road 740-369-4619 168 S. Sandusky Street 740-363-8080 Hungry Howie’s Pizza St.
    [Show full text]
  • Tim Hortons and Burger King Worldwide Provide Transaction Update and Set Election Deadlines
    Tim Hortons and Burger King Worldwide Provide Transaction Update and Set Election Deadlines Oakville, Ontario and Miami, Florida; December 5, 2014: Tim Hortons Inc. (TSX, NYSE: THI) and Burger King Worldwide Inc. (NYSE: BKW) today confirmed that the proposed transaction to create a new global quick service restaurant leader operating two iconic, independent brands has been approved by the Minister of Industry under the Investment Canada Act (“ICA”). In connection with this announcement, the companies are providing the following further updates regarding the transaction. The companies have set the deadline for registered shareholders of Tim Hortons or Burger King Worldwide to make an election with respect to the form of consideration they wish to receive, subject to pro-ration, as of December 9, 2014, prior to 5:00 p.m. (EST), which is based on the current expectation that the transaction will be completed on December 12, 2014. Registered shareholders are reminded that if they wish to make an election, they must complete, sign and return a Letter of Transmittal and Election Form to Computershare Trust Company, as exchange agent, by the election deadline. Shareholders holding shares through a broker, investment dealer or other intermediary should carefully follow the instructions provided by such broker, investment dealer or other intermediary if they wish to make an election. Shareholders with questions should contact DF King at 866-828-6934 (English) or 866-796-1285 (French). Tim Hortons and Burger King Worldwide also confirmed today that the transaction has previously received regulatory clearance under the Hart-Scott-Rodino Act (USA), the Competition Act (Canada) and the Canada Transportation Act.
    [Show full text]
  • Table-For-10-Ebook.Pdf
    TABLE OF CONTENTS Click below to jump to that chapter Meet Kelly 03 Introduction 04 CHAPTER 1: Recruiting and Hiring 09 CHAPTER 2: Shift and Labor Management 12 CHAPTER 3: Routine Management 16 CHAPTER 4: Security and Loss Prevention 19 CHAPTER 5: Inventory & Order Management 23 CHAPTER 6: 3rd-Party Consolidation 28 CHAPTER 7: Online Ordering 32 CHAPTER 8: Marketing 38 CHAPTER 9: Guest Feedback 46 CHAPTER 10: Data Aggregation and Analytics 51 Conclusion 55 Table for 10 - Ten Restaurant Technologies Collaborating to Help You Thrive in an Era of Uncertainty 3 MEET KELLY Kelly MacPherson is the former Chief Information Officer for Burger King, Popeyes and Tim Hortons, and has held technology leadership positions for prominent global brands such as Abercrombie and Fitch, MICROS, Planet Hollywood, and Hard Rock Cafe. MacPherson is a global visionary with a 20-year record of bold decision-making and resolute transformation leadership, driving evolution of operational excellence for multibillion- dollar global enterprises in the hospitality and retail industry. A transformative change agent with impeccable customer orientation, strong problem-solving abilities, and intrinsic instincts to consistently raise the bar to enable businesses to deliver results. She pioneered guest receipt surveys, has successfully innovated technology through two major economic downturns, and looks forward to using her experience to guide brands through the “new normal.” Table for 10 - Ten Restaurant Technologies Collaborating to Help You Thrive in an Era of Uncertainty 4 Introduction I’ve worked with Ovation to help restaurant owners and operators think through the technology that will help bridge the gap between the “new normal” and becoming just “the normal.” Driving both top line growth and margin improvements through a “connected restaurant experience” will only come through a robust ecosystem of partners built on a scalable flexible architecture enabling a seamless flow of data.
    [Show full text]
  • Perceptions of Corporate Social Responsibility of Prominent Fast Food Establishments by University Students
    Journal of Food Distribution Research Volume 47 Issue 3 Perceptions of Corporate Social Responsibility of Prominent Fast Food Establishments by University Students Carissa J. Morgan a, S. R. Dominick b, Nicole J. Olynk Widmarc, Elizabeth A. Yeager d and Candace C. Croney e a, b c Graduate Research Assistant, Associate Professor, Department of Agricultural Economics, Purdue University, 403 West State Street West Lafayette, IN, 47907, USA Phone: +1 765-494-2567. Email: [email protected] d Department of Agricultural Economics, Kansas State University, 342 Waters Hall, Manhattan, KS, 66506, USA e Associate Professor, Department of Comparative Pathobiology, Purdue University, 625 Harrison Street, West Lafayette, IN, 47907, USA Abstract Corporate social responsibility (CSR) can affect the way customers perceive a company and can influence product differentiation. This study assesses university students’ perceptions of CSR across eleven prominent fast food restaurants. A total of 550 students responded to in-person surveys administered on the campus of Purdue University. Chipotle and Panera Bread were perceived to be the most socially responsible out of the fast food restaurants studied, receiving mean preference shares of 31% and 30%, respectively. Keywords: consumer behavior, consumption patterns, corporate social responsibility, fast food perceptions Corresponding author November 2016 Volume 47 Issue 3 18 Morgan et al. Journal of Food Distribution Research Introduction Food expenditures by consumers away from home are increasing in the United States (BLS 2016; USDA 2016). At the same time, consumers are increasingly demanding more (attributes) from their food, and fast food restaurants have been moving to meet growing demand for social responsibility (Morgan et al.
    [Show full text]
  • UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 8-K ____________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 13, 2021 ____________________________ Carrols Restaurant Group, Inc. (Exact name of registrant as specified in its charter) ____________________________ Delaware 001-33174 83-3804854 (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification No.) 968 James Street Syracuse, New York 13203 (Address of principal executive office) (Zip Code) Registrant’s telephone number, including area code: (315) 424-0513 N/A (Former name or former address, if changed since last report.) ____________________________ Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $.01 per share TAST The NASDAQ Global Market Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
    [Show full text]
  • Carrols Restaurant Group, Inc. 2017 Annual Report
    Carrols Restaurant Group, Inc. 2017 Annual Report April 27, 2018 Dear Fellow Stockholders: 2017 was a year of continued progress at Carrols Restaurant Group, Inc. and we were pleased with our accomplishments, which included crossing the $1 billion mark in restaurant sales and increasing our unit count to more than 800 restaurants. We are proud to reach these milestones and intend to build upon them as we further position the Company for continued groowth. Total revenues in 2017 were $1.09 billion, an increase of 15.4% over the prior year, including $210.3 million in restaurant sales from the 175 restaurants acquired from 2015 to 2017. Comparable restaurant sales growth in 2017 of 5.2% yielded a strong 7.5% two-yyear trend, which outpaced most of our quick- service restaurant peers. Despite higher beef costs and wwage inflation, we also increased Adjusted EBITDA in 2017 to $91.4 million from $89.5 million in the prior year. BURGER KING®’s marketing strategy continues to effectively balance premium, value, and limited time product offerings to drive sales, average check, and customer traffic in a highly competitive environment. Premium offerings during the year included a number of products built around our new King™ sandwich platform and our new Crispy Chicken Sandwich. Notable value oofferings included the 2 for $6 WHOPPER® promotion, 2 cheeseburgers with small fries and a drink for $3.49, and 2 for $4 Mix and Match breakfast sandwiches, among others. In 2017, we acquired 64 BURGER KING restaurants in three separate transactions, consisting of 43 in Ohio (Cincinnati market), 17 in Maryland (Baltimore - Washington, DC market), and four in Maine.
    [Show full text]