Operator and franchisor of the Cheddar’s casual dining concepts. Cheddar’s operating philosophy centers on preparing high quality, made from scratch American food (i.e. burgers, steaks, ribs, salads, etc.) at an affordable price. This strategy has resulted in an incredibly loyal customer following and has allowed the concept to expand from 42 owned and franchised locations in 13 states at the time of our investment to well over 170 locations in 28 states currently.
Value Creation Opportunity
BACK TO INVESTMENTS
- Significantly expanded new corporate and franchise units and developed a new unit pipeline that resulted in continuous review of potential new locations
- Enhanced and refined menu offering, leading to average same-store sales growth that significantly exceeded the casual dining industry average
- Leveraged the company’s increased scale and purchasing power to drive cost savings on certain commodity inputs
- Managed expense base to drive continued margin expansion
- Optimized the new store construction process through the addition of a new Construction Supervisor