Irvine-based Johnny Rockets Group Inc., a growing chain of 1940s-style hamburger diners, is moving into a new larger headquarters at Town Center Corporate Park in Aliso Viejo.
The company has signed a five-year lease for 14,000 square feet of space at 26970 Laguna Hills Drive. The two-story, 37,614-square-foot building was completed in May. Johnny Rockets’ current headquarters in the Irvine Spectrum is 9,600 square feet.
Additionally, the restaurant chain’s management recently signed new multi-unit franchise development deals to build 17 stores in the next five to seven years. Bobby Azinian, who operates five units in the Los Angeles area, will build seven in Seattle, Wash., and Vancouver, B.C. A second deal for seven units is being finalized this week. The chain operates 65 company stores and has 73 franchises including all international stores.
Johnny Rockets, which counts 34 administrative employees and 2,600 workers companywide, operates 138 restaurants in 25 states and 10 internationally including five on Royal Caribbean Cruise ships. The company, which counted 1999 sales of $114 million, has been expanding through multi-unit franchise deals with an eye toward an eventual initial public offering, according to company officials.
Chief Executive Michael R. Shumsky, who took over the reigns from Glen Hemmerle in May 1999, has stepped up the company’s expansion and beefed up its corporate ranks. Shumsky installed a new management team last year including his latest hire, Greg Hubbard, the company’s first vice president of development.
According to Shumsky, 48, the investment group behind Johnny Rockets wants to grow the company into a national restaurant chain with a goal of filing for an IPO in the next two years.
The company was bought in 1995 by investors whose primary objective was to take it public, Shumsky said.
Founder Ron Tidlebaum, the company’s first CEO, remains on the board of directors. Other director-investors include Gap Inc. CEO Mickey Drexler and representatives of five investment firms, including Patricof & Co. Ventures, Generation Partners and Center Companies. n
