Restaurant Chain Growth Report 10/16/12

Growing Concepts
Concepts that have grown by at least 5% (if less than 50 units).

Minnesota-based PLAZA MORENA RESTAURANT has increased by 1 unit, from 3 to 4 (33% growth).  These family/casual Mexican restaurants are open for lunch and dinner, with an $8-$20 per person check average.  The restaurants have full bar and seating for around 200.  All locations are in MN.

Scarborough, ME-based PORTLAND PIE CO (founded 1997) has increased by 1 unit, from 4 to 5 (25% growth).  These take-out pizzerias are open for lunch and dinner, with a $4-$10 per person price range.  Locations have limited seating and sell beer and wine.  Delivery is available.  Locations are in ME and NH.

CHUCK-A-RAMA based in Salt Lake City, UT (founded 1998) has increased by 1 unit, from 10 to 11 (10% growth).  These are American buffet restaurants with seating for around 300.  Meal periods are lunch and dinner.  Per person check average is around $6-$12.  Locations are in ID and UT.

Pittsburgh, PA-based PRIMANTI BROTHERS RESTAURANT & BAR (founded 1933) has increased by 1 unit, from 20 to 21 (5% growth).  These restaurants are family/casual, open for lunch and dinner, and serving American cuisine.  Seating is for about 100 and catering and delivery services are available.  Locations are in FL and PA.

CHELINO’S MEXICAN RESTAURANT of Oklahoma City, OK has increased by 1 unit, from 11 to 12 (9% growth).  These are family/casual restaurants with full bar and seating for around 100.  Meal periods are lunch and dinner.  Per person check average is around $6-$12.  All locations are in OK.

D’AGOSTINO’S PIZZA AND PUB of Glenview, IL (founded 1968) has increased by 1 unit, from 4 to 5 (25% growth).  These are family/casual restaurants with full bar and seating for around 50.  Meal periods are lunch and dinner.  Per person check average is around $6-$12.  Catering and banquet services are offered.  All locations are in IL.

Virginia-based FACCIA LUNA PIZZERIA (founded 1989) has increased by 1 unit, adding a new concept called Luna 2 Woodgrill & Bar.  Other concepts include Boulevard Wood Grill (1) and Overwood (1).  Overall company increase was from 5 to 6 (20% company growth).  These are family/casual Italian and pizza concepts, open for lunch and dinner, with a $10-$30 per person price range.  Beer is served and seating is for about 125.  Locations are in PA and VA.

Emerging and Re-emerging Concepts
Concepts with 20 units or less who grew by at least 2 units.

Sandy, UT-based RODIZIO GRILL (founded 1995) has increased by 5 units, from 5 to 10 (100% growth) and entered into CT, MA, MN, OH, and TN.  This is an upscale Brazilian steakhouse concept, open for lunch and dinner.  Per person check average is $15-$50+.  The restaurants have full bar and seating for about 200.  Banquet services are available.  Trading areas are CO, CT, FL, MA, MN, OH, TN, and UT.  Franchise opportunities are now available.

LOS JILBERTOS based in Grand Junction, CO has increased by 2 units, from 5 to 7 (40% growth).  These are family/casual Mexican restaurants with full bar and seating for around 150.  Meal periods are lunch and dinner.  Per person check average is around $6-$12.  Locations are in AZ and CO.

Charlotte, NC-based NOBLE’S RESTAURANT MGMT has increased by 1 unit for the Rooster’s Woodfired Kitchen concept, from 1 to 2 (100% concept growth) and added a new concept called The King’s Bakery.  Other concepts are Noble’s Grille (1) and The King’s Kitchen (1).  Overall company increase was from 3 to 5 (67% growth).  These upscale restaurant concepts serve American cuisine, with a $15-$50+ per person check average.  Meal periods are lunch and dinner, with full bar service.  Seating is for about 150.  Catering and banquet services are available.  All the restaurants are in NC.

New York, NY-based SUSHISAMBA (founded 1999) has increased by 1 unit for the Sushisamba concept, from 5 to 6 (20% concept growth) and added 2 new concepts called Duck & Waffle and Sugarcane Raw Bar Grill.  Overall company increase was from 5 to 7 (40% company growth) and now operating in London.  The restaurants are upscale, serving sushi, seafood and steaks.  Per person check average is $15-$50+, open for lunch and dinner.  Locations have full bar service and seating for about 125.  Catering and banquet options are available.  Trading areas are FL, IL, NV, NY, and London.

Repeat Growers
Concepts previously written about in the past 18 months.

Louisville, KY-based TEXAS ROADHOUSE (NASDAQ: TXRH; founded 1993) has increased by 13 units, from 374 to 387 for the Texas Roadhouse concept (3% concept growth), entering into WA.  The company also operates the 3-unit Aspen Creek concept.  Overall company increase was from 377 to 390 (3% company growth).  These family/casual steakhouse restaurants are open for dinner only, with a $10-$30 per person check average.  The restaurants have full bar and seating for about 250.  Catering is available.  Trading areas are AL, AR, AZ, CA, CO, CT, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, and WY.  About 30% of units are franchised.  We last featured this company on 4/26/11 (2% growth), 8/30/11 (3% growth), and on 3/14/12 (5% growth).

Archdale, NC-based COOK OUT (founded 1989) has increased by 11 units, from 83 to 94 (13% growth) and entered into TN.  These quick serve BBQ restaurants are open for lunch and dinner, with a $4-$10 per person price range.  Units seat about 20 and offer drive-thru service.  Locations trade in NC, SC, TN, and VA.  We last featured this concept on 7/12/11 (11% growth).

Columbia, SC-based GROUCHO’S DELI (founded 1941) has increased by 1 unit, from 22 to 23 (5% growth).  These family/casual sandwich restaurants are open for lunch and dinner, with a $4-$10 per person price range.  Beer and wine are served and seating is for about 125.  Catering and delivery options are available.  Locations are franchised and trade in NC and SC.  We wrote about this concept on 12/20/11 (16% growth).

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