KBP Brands Expands Portfolio with 85 SONIC Restaurants
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KBP Brands Expands Its Restaurant Portfolio with SONIC
KBP Brands, recognized as one of the largest and fastest-growing franchise operators, has made a significant move by acquiring 85 SONIC restaurants. This latest addition further diversifies their portfolio, which already includes beloved brands such as KFC, Taco Bell, and Arby's. This acquisition encompasses several states, enhancing KBP's market presence.
Details of the Acquisition
The acquisition spans across six states, where KBP Brands now owns SONIC locations. These states include key regions in the Southeastern United States. With this transaction, KBP's total restaurant count exceeds 1,000 across 32 states, marking a notable achievement in their expansion strategy.
Comments from Leadership
Mike Kulp, the CEO of KBP Brands, expressed enthusiasm about the acquisition, stating that partnering with SONIC diversifies KBP's offerings and strengthens their geographic presence. This collaboration is expected to enhance their growth and solidify their relationship with Inspire Brands, the owner of SONIC and another franchise partner, Arby's.
Sonic’s Unique Appeal
SONIC is celebrated as the largest drive-in restaurant brand nationwide, known for its unique menu featuring made-to-order American classics, beverages, and delightful ice cream items. The addition of SONIC to KBP's portfolio is seen as a strategic enhancement, providing customers with even more variety and quality dining experiences.
Anticipated Growth Impact
This acquisition is projected to significantly boost KBP's annual revenue, potentially raising it beyond $1.5 billion. With a workforce exceeding 21,000 employees at their restaurants and headquarters, KBP is well-positioned for continued growth. Mark Everett, the Executive Vice President, will spearhead operations for the new SONIC locations.
About KBP Brands
KBP Brands operates a vast network of restaurants, owning and managing over 1,000 locations of KFC, Taco Bell, Arby's, and SONIC across 32 states. Their headquarters are based in Leawood, Kansas, and they have built their reputation over 25 years based on exceptional customer satisfaction and multi-unit operational expertise.
Frequently Asked Questions
What companies are included in the KBP Brands portfolio?
KBP Brands operates KFC, Taco Bell, Arby's, and SONIC restaurants.
How many SONIC restaurants did KBP Brands acquire?
KBP Brands acquired 85 SONIC restaurants across six states.
What regions are affected by this acquisition?
The acquisition of SONIC restaurants spreads across the Southeastern United States.
What is the expected revenue boost from this acquisition?
KBP Brands expects its annual revenue to exceed $1.5 billion following the acquisition.
Who will lead the operations for the new SONIC locations?
Mark Everett, Executive Vice President of KBP, will lead operations and growth for the SONIC locations.
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