Corner Bakery Café has announced an agreement to open 22 new locations in Rhode Island and Connecticut throughout the next eight years.
The agreement, signed by Top Line Restaurants, calls for 16 cafes in Connecticut and six in Rhode Island, with the first location scheduled to open by summer 2013.
Top Line Restaurants is managed by husband-and-wife franchise partners Glenn and Tina Beattie, who have more than 20 years experience in the restaurant industry. The Beatties own 37 Denny's in western New York and Arizona.
"The decision to take a restaurant concept such as Corner Bakery Café into untapped markets is an easy one for us," said Glenn Beattie. "I'm confident that everything from the wall murals depicting local landmarks to the freshly prepared breakfast scramblers, grilled panini and hand-roasted coffee will make Corner Bakery Café an instant neighborhood staple throughout Connecticut and Rhode Island."
Since being acquired by Roark Capital Group in 2011, Corner Bakery Café has accelerated its national expansion plans through franchising, with plans to double the brand's presence in the next three years. The bakery cafe brand boasts an EBITDA of more than 18 percent and an average unit volume exceeding $2.2 million.
"There are multiple untapped markets throughout the Northeast and across the country that are perfect for multi-unit Corner Bakery Café agreements," said Mike Hislop, CEO of Corner Bakery Cafe. "We've perfected the Corner Bakery Café business model by running company-owned cafes for more than 20 years and know that our brand caters well to the dense populations and family-focused lifestyles in Connecticut and Rhode Island."
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