CraftWorks Acquires Seven Old Chicago Restaurants From Franchisee
- posted in: Features
BROOMFIELD, Colo. (PRNewswire) — CraftWorks Restaurants & Breweries last month announced the acquisition of seven Old Chicago Pizza & Taproom locations from longtime franchise partner OCI Enterprises Inc.
The restaurants are located across the Southeast, with a presence in Tennessee, Kentucky and Indiana, and will operate as corporate-owned restaurants.
The deal with OCI Enterprises will have no effect on employees or guests. The approximate 500 jobs across the restaurants will remain after the. acquisition closes. Under OCI Enterprises, the restaurants have generated $21 million in total revenue, exceeding the system average, and are poised for continued success.
Old Chicago, which operates in 24 states with more than 100 restaurants nationwide, experienced record-breaking success in 2015 achieving $254 million in systemwide revenue, and is currently reporting 29 consecutive months of positive sales.
CraftWorks Restaurants & Breweries is the largest craft brewery restaurant operator in the country with nearly 200 franchised and company-owned restaurants primarily operating under the Old Chicago Pizza & Taproom, Gordon Biersch Brewery Restaurants, Rock Bottom Restaurants & Breweries and ChopHouse & Brewery brands.