Team Schostak Family Restaurants acquires 56 Wendy’s restaurants in Michigan
Livonia-based Team Schostak Family Restaurants has acquired 56 Wendy’s restaurants in Michigan. With the addition, family-owned Team Schostak now owns and operates more than 160 restaurants throughout Michigan.
“As our team actively sought opportunities to grow TSFR’s restaurant business, this unique opportunity came up in our home state to purchase these Wendy’s and the acquisition was a strategic and natural fit,” Mark Schostak, executive chairman, said in a news release.
The Wendy’s that TSFR acquired are in Wayne, Washtenaw, St Joseph, Otsego, Ogemaw, Oakland, Montcalm, Liviningston, Lenawee, Kalamazoo, Jackson, Ionia, Ingham, Hillsdale, Eaton, Crawford, Clinton, Clare, Calhoun, Branch and Barry counties.
The Schostak family started in real estate and diversified nearly 40 years ago when it became a Burger King franchisee. Over 34 years, Team Schostak grew the Burger King chain from one to 60 restaurants in Michigan before selling its stake in the brand in 2015.
Today, Team Schostak owns and operates 65 Applebee’s, 27 Olga’s Kitchen, 14 MOD Pizza and seven Del Taco restaurants in Michigan. In 2018, Team Schostak opened the first co-branded Applebee’s/IHOP restaurant inside the Millender Center in Detroit.
“TSFR is a known leader in the restaurant industry with a successful track record of growing and operating numerous restaurant concepts, and we are excited about their commitment to help grow Wendy’s,” Angela Coppler, senior director of global franchise recruiting at The Wendy’s Co., said in the release.
Team Schostak will add 1,700 employees as a result of the acquisition, the company said.
Posted By: Crain’s Detroit Business on May 21, 2019. For more information, please click here to read the source article.
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