Uno Pizzeria & Grill Announces the Sale of Company-Owned Restaurants as Part of Its Re-Franchising Initiative
BOSTON (PRWEB) November 05, 2018 -- UNO Restaurants, LLC (“UNO”), the owner, operator and franchisor of the UNO Pizzeria & Grill brand, announces the sale of eight company-owned restaurants to MVPizza, LLC as part of a broader re-franchising initiative. The eight restaurants are located in the Maryland and Virginia markets and are the first markets to be sold in connection with UNO’s re-franchising initiative. MVPizza, LLC retained all of the management, hourly and field employees offering them a unique growth opportunity under franchise ownership. MVPizza, LLC is an affiliate of the Bastian Restaurant Group, owned by Mr. Amir Yazdi, a successful, California-based operator and franchisee of multi-unit restaurant brands. The Cypress Group is serving as the exclusive advisor to UNO in the re-franchising of company-owned restaurants.
Mr. Amir Yazdi, President & Chief Executive Officer of MVPizza, LLC and the Bastian Group, said, “I am excited to be part of an iconic brand with such a rich and authentic history as UNO. I am also honored to have such a dedicated team of people who will ensure a smooth transition of the business and to be able to offer them additional opportunities to grow in their careers at UNOs.”
Mr. Louie Psallidas, President & Chief Executive Officer of UNO, stated, “I am pleased to welcome Amir Yazdi and the Bastian Group to the UNO family. I look forward to a mutually beneficial, long-term relationship with Amir and his team and to supporting him in the growth of the UNO brand in his markets.”
Psallidas went on to say, “The re-franchising initiative was intended to facilitate the growth of the UNO brand through its new prototype dubbed UNO Next. The UNO Next design, created in partnership with Synergy Restaurant Consultants, brings forward the rich and authentic history of the UNO brand and combines it with a new contemporary design featuring an open display kitchen, a large bar and community tables designed for groups and socializing, a dedicated area for take-out and a significant technology component. We intend to open a company-owned UNO featuring the UNO Next design in 2019.”
This is the first of two re-franchising transactions entered into by UNO. The second transaction is with a franchise group that operates over 160 restaurants across two brands in 14 states. The second transaction is slated to close in November for the sale of restaurants in certain Northeast markets.
Upon the closing of the second re-franchising transaction, UNO will have 38 company- owned and 54 domestic and 8 international franchised restaurants. The company-owned restaurants are primarily based in New England, Florida and Chicago.
The Cypress Group is serving as the exclusive advisor to UNO in the re-franchising of Company-owned restaurants. Cypress provided valuation services, identified potential acquirers, structured the deal terms and advised UNO throughout the transaction process. Parties interested in learning more about the UNO re-franchising program should contact the Cypress Group at 303-680-4141 or via email at [email protected].
About Uno Pizzeria & Grill
Based in Boston, Massachusetts, Uno Restaurant Holdings Corporation includes 100 company-owned and franchised Uno Pizzeria & Grill restaurants located in 22 states, the District of Columbia, the United Arab Emirates, Honduras, Qatar, and Saudi Arabia. UNO's is all about the joy of sharing a hand-crafted pizza – from our famous Chicago Deep Dish, which we invented in 1943, to our Chicago Thin Crust. The Company also operates Uno Dué Go, a fast-casual concept and Uno Foods, a consumer-packaged foods business. For more information, visit http://www.unos.com.
Skip Weldon, UNO Restaurants, LLC, +1 617-218-5281, [email protected]
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