Ascent Hospitality Management
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Ascent Hospitality Management is a restaurant brand holding company and the operator and franchisor of Huddle House and Perkins Restaurant & Bakery. Formed in 2019 by the acquisition of Perkins, LLC by Huddle House, Inc, the company operates 600 family dining restaurants across the United States and Canada. The company is based in Sandy Springs, GA, just north of Atlanta, and retains a satellite office in Memphis, the former headquarters of Perkins.
History
Perkins Acquisition
Huddle House was acquired by investment firm Elysium Management from private-equity firm Sentinel Capital in 2018. The following year, in October 2019, the company purchased Perkins Restaurant & Bakery in for $51.5 million following a Chapter 11 bankruptcy filing. At the time of the deal, the combined brands had 700 restaurants with collective sales of around $800 million. The brands operate under a shared services business model, sharing efficiencies in certain support departments, while operating restaurants as distinct, separate brands.
References[edit]
https://www.restaurantbusinessonline.com/financing/elysium-management-buys-huddle-house
https://www.restaurantbusinessonline.com/financing/huddle-house-agrees-buy-perkins-515m
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