Smashburger signs franchise deal for Nebraska stores

Date AddedJune 01, 2009 12:14:49 PM

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Restaurant company Smashburger Master LLC said Wednesday it has reached its 10th franchise deal, one that will lead to 10 new locations to Nebraska.

Denver-based Smashburger, a unit of private equity firm Consumer Capital Partners, said the deal with Reload LLC will ultimately bring the burger chain 187 franchise locations.

Terms were not announced.

Reload owner Jim Stevens also operates 30 other franchise restaurants in the Midwest. The 10 new Smashburger stores will be in Lincoln and Omaha markets.

"Franchise partners like Reload fit perfectly with how we're trying to grow and expand," Scott Crane, president of the company, said in a statement Wednesday. "Reload brings experience and expertise to the table and really understands how to operate a successful restaurant franchise. We're excited to have found such a strong franchisee to help us enter the Nebraska market."

Smashburger says it plans to have 500 restaurants over the next several years, with 30 to 60 opening in 2009. The company website lists 14 currently open stores, with 10 in Colorado, two in Kansas and one each in Minnesota and Texas.

Earlier this month, Smashburger announced a franchise deal for 16 new locations to central Iowa. It also has signed deals in recent months that it says will lead to locations in Missouri, New Jersey, New Mexico, Oklahoma, South Dakota and Utah.

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