Wednesday, February 4, 2009

JEM Restaurant Group Acquires 40 Pizza Hut Restaurants

/PRNewswire/ -- JEM Restaurant Group announced today that it has acquired 40 Pizza Hut restaurants located in the Georgia markets of Columbus and Macon, as well as the Jacksonville, Florida market. The assets purchased include real estate, leasehold interests and restaurant operating equipment. The purchase price was not disclosed.

JEM Restaurant Group, headquartered in Charleston, SC and owned by John McGrath, operates over 100 Taco Bell and Pizza Hut franchised restaurants in South Carolina, Georgia, Alabama and Florida. The 40 unit acquisition was tendered under a new operating entity, Southeastern Pizza Group, LLC.

"This is a unique opportunity in a very difficult operating environment," Mr. McGrath stated. "We believe the Pizza Hut and Taco Bell brands are well positioned in the marketplace and our parent company, YUM! Brands, has excellent leadership at its helm. Pizza Hut continues to introduce compelling new menu offerings of great quality food at attractive price points."

"JEM Restaurant Group is teaming up with the former COO of Pizza Hut, Jerry Buss, to assemble an outstanding team of restaurant operators to run the 40 Pizza Hut restaurants in Southeastern Pizza Group," added Mr. McGrath.

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