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Acquisition reflects expansion plans for restaurant chain
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Carlson said it has acquired the remaining 60 percent stake in T.G.I. Friday's UK Holdings Ltd. from AAC Capital Partners for $50 million. The acquisition is part of Carlson's strategy to invest more than $100 million to both acquire and fuel further growth of the Friday's® brand in the UK market over the next five years.
"As a global hospitality company, our objective is to continue to grow our core hotel and restaurant brands, and the T.G.I. Friday's UK acquisition is a tremendous opportunity to expand in an established market that is familiar with our brand," said Hubert Joly, Carlson's president and ceo. "We are confident that T.G.I. Friday's in the UK will continue to perform well for our company and our guests, and we believe the brand's strong momentum provides the potential for continued global expansion."
Carlson's investment in its UK restaurant operations is part of its Ambition 2015 growth initiative. That plan calls for the T.G.I. Friday's brand portfolio by at least 160 locales by 2015 to nearly 1,100 restaurants in over.
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