News

2 father-son teams expanding Newk's throughout North Texas

August 22, 2017

Newk's Eatery is expanding in North Texas, inking a development deal to open seven locations with two father-son teams. Texas restaurateurs, Cyrus Park and his father, Hooshang Naghad, will serve as the local operators, with capital and counsel provided by Alan Ribble and his son, Conner Ribble.

This is the first joint investment by the four, who bring extensive restaurant and hospitality industry experience to the table, according to a company press release. Naghad opened Park Place, a fine dining restaurant, in 1979, in Texarkana, Arkansas, and is a graduate of the French Culinary Institute of New York. Park has been working alongside his father for 17 years. The Ribbles have been investors in real estate for more than 30 years, including involvement with North Dallas hotel franchises.

"This team is ideal to expand Newk's brand in the Fort Worth area," said Newk's Chief Development Officer Chris Cheek, in the release. "They have tremendous hospitality experience, and Cyrus and Hooshang are experts in both restaurant operations and building relationships with guests and in the community.”

In the past year, Newk's exceeded the 100-unit mark, expanded into 10 new markets and added over 50 new franchise unit commitments.