Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that Global Franchise Group, LLC (“GFG”; www.globalfranchise.com), a portfolio company of Levine Leichtman Capital Partners IV, L.P., has successfully completed the strategic acquisition of Hot Dog on a Stick (“HDOS Enterprises” or “HDOS”) through the purchase of HDOS’s operating assets. Since its founding in California in 1946, HDOS has been serving its famous hot dogs on a stick and lemonade and now has 92 locations in the U.S. and select countries worldwide.
The addition of HDOS to GFG’s existing portfolio of brands will allow HDOS to leverage GFG’s vast resources, particularly on the franchising side, to accelerate growth and bring the HDOS brand into new territories and markets.
Lauren Leichtman, Co-Founder and CEO of LLCP, commented, “The HDOS acquisition is an important strategic addition to the GFG platform, which will strengthen the company’s geographic footprint and provide yet another growth avenue for GFG. The transaction will be highly accretive and generate significant synergies that will ultimately provide value to all of GFG’s stakeholders.”
“The transaction with HDOS will add another strong brand to GFG’s already existing robust quick service restaurant portfolio,” said Chris Dull, President and CEO of GFG. “Utilizing GFG’s strength in brand management, marketing and franchising, along with the iconic brand and long heritage of HDOS, we can greatly accelerate growth while providing HDOS’s loyal customer base with even greater service and menu offerings in the years to come.”
Posted by Rachel Allan
09/05/14
