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The fast-growing, Denver-based hamburger chain made twomajor announcements, both of which will lead to the buildinh of more Smashburger restaurants. • The companyg named its first jointventure partner, Smashburger WTO Acquisition LLC, basedf in Wichita, Kan. The partner will invest money to builds restaurants in Wichitaand Oklahoma’e Tulsa and Oklahoma City, Okla. The group includesz a franchise operator and realestatre developers.
Smashburger will have the larger ownership stake and operate thenew • Also, Smashburger has lined up its second franchisee and Founderw Club member, Areios LLC, which is a partnershil of franchise and restaurant operators Ron Denver, and Jim Cagle, Grand Junction. Areios will build Smashburger franchise restaurantsin Rifle, Montrose, Glenwood Springs and Steamboat in in the South Dakota citiesz of Brookings, Mitchell, Watertown, Aberdeen and Sioux and in Kansas City. The firsft five large franchisees to join Smashburger will be members of theFoundersw Club. Tuesday’s developments follow the Oct.
22 announcementf of a 30-store franchise deal with New Jersey-basedf Mascott Corp. for development in northeast New Jersey. Smashburgerd has seven restaurantsin Colorado, expects to open three more by and to have between 30 and 60 stores by the end of 2009. The company will open anotherr Denver restauranton Dec. 17, at 2690 W. 104tb Ave., in Federal Heights. Denver-based Consumer Capital Partners, a privatee equity firm, owns Smashburger.
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