Sopra Capital has acquired Provo, Utah-based the parent company of quick-serve restaurants Hogi Yogi, Teriyaki Stix and Yoasis Brands. No financial terms were disclosed.
Sopra Capital II, LLC announced today its acquisition of the Hogi Yogi, Teriyaki Stix, and Yoasis Brands. Sopra Capital II is a private equity and management firm based in Salt Lake City, Utah, which focuses on the acquisition and development of established and profitable franchise brands that are poised for growth. Collectively, Hogi Yogi, Teriyaki Stix and Yoasis currently have over 40 locations franchised in three states throughout the U.S.
“The Sopra Brands team understands our business; our implementation of their strategies has already provided growth and added profitability to our bottom line,” said Mike Clayton, founder of Hogi Yogi and Teriyaki Stix. “The partnership with Sopra will allow our existing team to more effectively focus its talents, while partnering with their executives to grow the business.”
Formerly operating under the name HYATS, LLC, these brands will now operate under the new food franchise division of Sopra Brands™, called Peak Brands™. Clayton will remain as the CFO of Peak Brands. “We are looking for profitable businesses and have found some real advantages to owning these brands,” said Brian Charlesworth, Managing Director of Sopra Capital II.
Chuck Jones, who recently joined Sopra Brands as Vice President of Development, has over 20 years’ experience in the franchising industry beginning with PepsiCo/Tricon/Yum Brands where he oversaw development of Pizza Hut Express and was instrumental growing the company from 400 units to 2200 units in 5 years. In addition, he spearheaded and managed a co-branding initiative to implement the Pizza Hut brand into 3000+ new and existing restaurants. He has experience in Retail and Service industries in Franchising to understand and adapt to our different franchise systems.Most recently, he more than doubled the size of Ben and Jerry’s Franchise organization from 200 to over 750 sold units. Chucks combination of Operations and Development experience selling thousands of franchises, make him a powerful ally to the franchisees coming into the system and to Sopra Brands as a whole.
“Having worked with and placed hundreds of development people in different franchise organizations over the last decade, it is an honor to have Chuck on our team. All of our brands will benefit tremendously from his talents and systems,” said David Leoncavallo, Managing Director of Sopra Capital II and owner of FranSearch, Inc., an executive recruiting company specializing in franchising.
More information on Hogi Yogi, Teriyaki Stix, Yoasis and Sopra Capital can be found at the companies’ respective Web sites: www.HogiYogi.com, www.TeriyakiStix.com , www.YoasisParadise.com and www.soprabrands.com.
About Hogi Yogi and Teriyaki Stix
In 1989, Mike Clayton recognized the market potential of two popular food segments in the fast food industry: submarine (hoagie) sandwiches and frozen yogurt. Clayton is a graduate of Brigham Young University with a Masters in Accounting. Between 1989 and 1993, Clayton developed the Hogi Yogi brand using several corporate owned restaurants that offered healthy menu options and uniquely prepared frozen yogurt.
In 1993, the Hogi Yogi brand became a franchise. With an eye towards continuing to offer healthier alternatives to traditional fast food, Clayton and his brother Rick introduced a Japanese fast food concept called Teriyaki Stix in 1995. Today, these brands operate over forty franchised locations in Utah, California, and Idaho.
During the spring of 2008, the Clayton brothers expanded the frozen yogurt concept with the Yoasis brand. Yoasis serves pure frozen yogurt generously topped with a variety of toppings, including premium fresh fruits. Yoasis locations offer free wi-fi access and professional catering service.
About Sopra Capital II
Sopra Capital II, based in Salt Lake City, UT provides capital and management services to companies in the franchise industry. Sopra works with profitable franchise companies, which have a proven system and an operational platform to support extensive growth.
The Sopra II Team brings over 40 years of franchise background to their companies and is experienced in managing and growing both small and large franchise companies. As company executives, they have grown several franchise organizations adding thousands of units to these companies while consistently increasing revenues and driving profitability. The team has also worked with over 300 franchise organizations to staff franchise systems with industry leaders.
For more information about Sopra Capital II or if you are a franchise organization, which would like to partner with Sopra, please visit www.soprabrands.com or contact Brian Charlesworth at (801) 503-9220.