Edmonds Capital, a buyout firm located in Arlington, Va., purchased two restaurant chains from franchiser Raving Brands: Shane’s Rib Shack and Planet Smoothie. No deal terms were disclosed.
Raving Brands, global multi-concept franchisor, today announces the sale of Shane’s Rib Shack, a national rib shack and barbecue concept founded by Shane Thompson in 2002, and Planet Smoothie, a national smoothie concept founded by Martin Sprock in 1995, to management and Edmonds Capital, LLC. As part of the deal, the management teams of these two concepts will remain intact with their respective brands. The three remaining concepts within the Raving Brands portfolio — Monkey Joe’s Parties and Play, The Flying Biscuit Cafe and Boneheads Grilled Fish and Piri Piri Chicken — will continue to operate with Raving Brands.
“Since the sale of Moe’s Southwest Grill, our strategy has been to focus on early stage franchise concepts,” explains Daryl Dollinger, president of Raving Brands. “This deal is good for both companies, allowing Shane’s Rib Shack and Planet Smoothie to scale nationally while we focus on continued growth for Monkey Joe’s, The Flying Biscuit Cafe and Boneheads. Monkey Joe’s, unique in that it’s outside the food category, is showing tremendous national growth even in a down economy.”
Raving Brands will continue its efforts to nurture and grow these three emerging concepts. As the international franchise rights holder of Mama Fu’s Asian House, Bonehead’s Grilled Fish and Piri Piri Chicken, Doc Green’s Gourmet Salads and Grill and PJ’s Coffee of New Orleans, it plans continued expansion internationally over the next five years.
About Raving Brands
Raving Brands is a global franchise incubator of fast growing concepts, including three today within food, beverage and family entertainment. Its brands include Monkey Joe’s Parties and Play, The Flying Biscuit Café and Boneheads Grilled Fish and Piri Piri Chicken. Raving Brands also holds the international rights to several of its original concepts including Mama Fu’s Asian Kitchen, PJ’s Coffee of New Orleans and Doc Green’s Gourmet Salads. For more information, visit www.ravingbrands.com.