|PR Log (Press Release) – Mar 05, 2010 – Houston Subway
Franchisee Adds Units—In Buffalo, NY
National Franchise Sales, a franchise business brokerage company based in Southern California with nine offices nationwide, announced the completion of the sale of 14 Subway restaurants in the Buffalo and Rochester areas of New York.
The seller, QSR Brands LLC, retained National Franchise Sales to sell the group of Subway restaurants with a combined annual revenue of $6.5 million restaurants located in upstate New York.
"We hired Joe and his company to sell our chain of Subways restaurants in Upstate New York and he completed the task with a terrific result, ahead of schedule and with almost no anxiety over the process," says Jordan Levy of QSR Brands. "I don't think there is a better banker in American to handle an M&A transaction if the restaurant industry."
The buyers, Bharat and Renu Aggarwal are multi-unit Subway franchisees based out of Houston, Texas, and funded the transaction through their local lender Wallis Bank. This transaction expanded the Aggarwal's operation from 23 units to 37.
National Franchise Sales' agents Jerome J. Thissen and Joseph Thissen were instrumental in guiding both sides to a successful conclusion