Togo's Eateries, Inc., announced that it has finished the acquisition of 13 franchised restaurants from company founder Mike Cobler.
The company's acquisition of 13 restaurants in the East Bay and San Jose locations brings a total of 19 units of Togo's company-owned diners in California.
According to Tony Gioia, chairman and CEO of Togo's Holdings, LLC, these locations are helpful in providing additional resources for Togo's new franchise owners, management and crew in support with their training for future grand openings.
Gioia said, "This recent acquisition is part of our long-term growth strategy and reflects our company's commitment to operational excellence." He also said that these newly acquired franchise restaurants will cater their plan of operating new system and testing new products for a larger platform.
Tony Hardin, Togo's newly appointed Senior Director of Company Restaurant Operations, will supervise the operations for all of the company's corporate locations.
Togo's has more than 320 restaurants around the West, both open and underdevelopment. As the company experience sales increase for four consecutive years of franchising, Togo's started an incentive program called multi-unit franchise development last year. The agenda aims to drive development in key growth markets.
The incentive program is offered for both existing and new franchise owners who agreed to sign for three or more venues. They will earn reduced royalty fees for each restaurant for the first two years. These restaurants should be developed in Oregon, Colorado, Washington, Idaho, Arizona, Utah, and Nevada. Franchise owners are entitled to $10 million benefits for remodels and transfers, and also $5 million in building new restaurants.
Founded since 1971, Togo's Sandwiches, known as the "West Coast Original," serves great and big made-to-order sandwiches filled with the freshest ingredients. They also offer sandwich franchise for sale. For four consecutive years, Togo's has been one of the most successful sandwich franchises in the industry.
