CHARLOTTE, N.C., Jan. 5 -Charlotte, NC-based Alliance Development Group has signed an agreement with Damon's International to purchase the company's Damon's Grill full-service restaurant chain. Terms of the agreement, which is due to close in mid-February 2006, were not disclosed.
"We think the Damon's Grill concept is sound and can be placed in many more markets than it currently serves. Our expertise in locating and purchasing the right property, as well as building and outfitting restaurants will allow us to move rapidly into new markets," says Bill Burk, president of Alliance Development Group. "Our approach will be to build additional company- owned stores and to help our existing franchisees add new sites, too."
With more than 100 company and franchised locations worldwide, Damon's International, Inc., is a leading full-service, casual dining restaurant concept that emphasizes prime rib, grilled steaks, chicken, seafood, salad and Damon's award-winning ribs. The Columbus, Ohio-based company, founded in 1979, reported 2005 fiscal sales of $252 million.
Alliance Development Group is a national, vertically integrated real estate services company that provides multiple commercial development services to a variety of markets, including casual dining, quick service, C-store, banking and others. It offers both Build-to-Suit and Sale Leaseback programs to help companies pursue growth strategies without the capital limitations and long-term debt challenges owning real estate presents.
