WAYZATA Minn. After hiring a new chief executive to jump-start growth, the four-unit Redstone American Grill chain has secured $25.6 million in expansion funding from two sources.
The chain, a venture of Champps Entertainment founder Dean Vlahos, plans to open three new restaurants in 2008, one of which is under construction in Plymouth Meeting, Pa.
The infusion of capital follows Redstone’s recent announcement that David Goronkin, the former president and chief executive of Famous Dave’s of America Inc., will assume the same posts at the upstart casual chain on Jan. 7.
Vlahos opened the first Redstone Grill in 1999. Branches are now open in Minnetonka and Eden Prairie, Minn.; Oak Brook Terrace, Ill. and Marlton, N.J.