LEXINGTON, Ky. (Oct. 14, 2013) — Thomas & King has entered into an agreement to sell its Applebee’s Grill and Bar franchise restaurant operations to RMH Franchise Corp. of Lincoln, Neb. The transaction is subject to various standard closing conditions and franchisor approval, and is expected to close before the end of 2013.
RMH is a franchisee of Applebee’s and, along with its affiliates, currently owns and operates 60 Applebee’s restaurants in 10 states. This acquisition will bring its total number of Applebee’s restaurants to more than 140, making it the second largest Applebee’s franchisee and one of the 15 largest franchised restaurant companies in the U.S.
RMH said that it intends to hire many of the employees currently working in the Thomas & King corporate office in Lexington. For those not offered positions with the new owners, many will have the opportunity for continued employment with Thomas & King.
Thomas & King will continue to own and develop its Johnny Carino’s Italian restaurants and develop new business opportunities.
“RMH is a very professional and highly regarded franchisee of Applebee’s and will bring energy, expertise and a passion for our restaurants that will continue our 25 years of success in the business,” said Mike Scanlon, CEO of Thomas & King. “I am especially pleased that RMH will retain many of our current home office employees. I am confident that RMH will continue to be a leader in our industry.”
Jeff Neumann, CEO of RMH Franchise Holdings, said: “Thomas & King shares many of RMH’s core values, including commitment to excellence and superior customer service. Customers of the restaurants we are acquiring will continue to enjoy the exceptional dining experience at Applebee’s that they do currently. We are excited to be growing our portfolio of restaurants and look forward to continued success.”