Cambridge Franchise Holdings has further established itself as a major Burger King franchisee with the purchase of 42 southern locations of the quick-service burger chain, the company said Monday, bringing its total to 85 restaurants.
The Memphis, Tenn.-based company, founded in 2014, bought the restaurants, as well as five All-in-One convenience stores, from Mirabile Investment Corporation. Mirabile is owned by real estate developer and restaurateur Joseph Mirabile. The acquired properties are located in Tennessee, Mississippi and Arkansas.
Cambridge Franchise Holdings was founded in 2014 by 30-year Burger King franchisee Ray Meeks in partnership with Matt Perelman and Alex Sloane.
The latest purchase is the largest acquisition since Cambridge was established. In August 2014, the company purchased 22 Burger King locations in the Southeast. In April 2015, it acquired the Shreveport, La., market, comprised of 11 Burger King restaurants, as well as three locations in the Blue Ridge Mountains of Tennessee, and North Carolina. Last November, Cambridge bought six restaurants in Mississippi.
Although Cambridge is a growing presence in the Burger King system, it remains dwarfed by the largest player, Carrols Restaurant Group Inc., based in Syracuse, N.Y., which acquired 46 more locations in the fourth quarter of last year, in West Virginia, Ohio, Michigan, Indiana and Kentucky, giving it a total of 705 units.
There were 7,129 domestic Burger King locations as of the end of 2014, according to NRN’s Top 100 report.
Contact Bret Thorn at [email protected].
Follow him on Twitter: @foodwriterdiary