Doherty Enterprises Inc. has acquired 38 Applebee’s Neighborhood Grill & Bar restaurants in Georgia and Florida.
The acquisition from Duluth, Ga.-based Gator Apple LLC is the largest ever for Doherty Enterprises, which now owns 140 restaurants in four states, 100 of which are Applebee’s locations.
Thirty-five of the 38 newly acquired units are in Florida, and three of them are in Georgia.
“We’ve been on the lookout for any potential acquisitions of our existing brands for some time,” said Ed Choe, president at Allendale, N.J.-based Doherty Enterprises.
Choe declined to discuss the financial details of the acquisition.
All 38 units will be remodeled with a more contemporary interior and exterior look, complete with a brighter color palette and new furniture, said Choe. “I think that, by and large, if you have a more inviting environment, you can expect to see sales uptick,” he said of the decision to redesign.
The remodels will likely take place over the next year-and-a-half to two years, Choe said.
“These achievements will help us to reach close to a half of a billion dollars in sales, making Doherty Enterprises a formidable name in the restaurant industry,” Choe said in a statement.
In addition to the acquisition news, Doherty Enterprises said Wednesday that it has opened its first Noodles & Company location at Westbury Plaza on Long Island, New York. The company has the rights to develop 23 Noodles & Company locations in Long Island, Choe said.
Doherty Enterprises’ portfolio is composed of Noodles & Company, Applebee’s, Panera Bread, Chevys Fresh Mex, Quaker Steak & Lube, The Shannon Rose Irish Pub and Spuntino Wine Bar & Italian Tapas.
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