More Deals in Store for American Restaurant HoldingsMonday, February 10, 2014
Irvine-based American Restaurant Holdings Inc. is in the midst of closing several more acquisitions on the heels of its purchase of Fronteras Mexican Grill & Cantina in Alhambra last month.
“We have a few more under purchase agreement and hope to announce some new things soon,” Chief Executive Tim Betts told the Business Journal on Monday.
He added that the company is “chasing a pretty sizable [restaurant] brand that has a lot of locations.”
American Restaurant Holdings, along with its American Restaurants LLC subsidiary, was formed to purchase restaurant concepts and other businesses in the food services industry. It is traded over the counter.
“Our model is sort of two-fold,” Betts said. “We go after stand-alone restaurants that have a 47 liquor license [a type granted to eating establishments] and are in heavy traffic, destination locations. People go there for entertainment and food. We feel there’s a big opportunity in the market to acquire these [concepts] … and really improve operations.”