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Who Are Briad

The Briad Group was founded in 1987 and has since expanded into several restaurant brands, hotels, and construction. In 2006, they acquired Main Street Restaurant Group, one of the largest TGI Friday's franchisees, in a $119 million deal. This made Briad Group the largest TGI Friday's franchisee and one of the largest restaurant companies. Though they faced controversies like a liquor-filling scandal in 2013, they have continued to grow and now operate over 100 restaurants and a dozen hotels across their four divisions.

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76 views

Who Are Briad

The Briad Group was founded in 1987 and has since expanded into several restaurant brands, hotels, and construction. In 2006, they acquired Main Street Restaurant Group, one of the largest TGI Friday's franchisees, in a $119 million deal. This made Briad Group the largest TGI Friday's franchisee and one of the largest restaurant companies. Though they faced controversies like a liquor-filling scandal in 2013, they have continued to grow and now operate over 100 restaurants and a dozen hotels across their four divisions.

Uploaded by

Kuruyami Shuuya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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The Briad Group was founded in October 1987 by Brad Honigfeld when he opened his first

franchise of Steve’s Ice Cream/Carnegie Deli in Princeton, New Jersey. The company opened a
Roy Rogers restaurant in North Brunswick Township, New Jersey in 1988 and continued to
grow its restaurant business. In 1993, the company opened its first T.G.I. Friday’s restaurant in
central New Jersey. After the success in its casual-dining division, the company turned the
attention to its quick-service division. It discontinued Roy Rogers and started converting into
Wendy's Old Fashioned Hamburgers.

In 1997, the company started its hotel business by becoming an operator of a Marriott hotel and a
Hilton hotel in 2002. It has developed and operated under these two brands in a dozen of
properties.

Main Street Restaurant Group


Main Street Restaurant Group, Inc. was founded in 1988 to operate food distribution in Phoenix,
Arizona. Main Street purchased four T.G.I. Friday's restaurants from T.G.I. Friday's Inc. in 1990
to establish its restaurant operation. The company had aggressively purchased properties and
franchise rights from independent operators in many states from 1991 to 1993. The company
finally sold its food distribution business and focused solely on restaurant business with
development of additional brands. In 2006, Main Street had 56 T.G.I. Friday's, and a dozen of
restaurants under other brands. It was the world's largest T.G.I. Friday's franchisee.[4]

In June 2006, The Briad Group made a major investment in its casual-dining division by striking
a $119 million deal to acquire Main Street Restaurant Group, Inc. — a publicly traded company
— through its wholly owned subsidiary, Briad Main Street, Inc. It was listed as one of the
biggest mergers & acquisitions deals of 2006 in the restaurant industry.[5]

Controversy
In 2013, 13 of The Briad Group's T.G.I. Friday's locations in New Jersey were raided by the New
Jersey Division of Alcoholic Beverage Control as part of "Operation Swill". These
establishments were allegedly filling premium brand bottles with non-premium brands. The
Briad Group paid a fine of $500,000.[6][7][8]

Divisions
The Briad Group is organized in four major divisions. Casual-dining division oversees 68 T.G.I.
Friday's restaurants. Quick-service division owns and operates 43 Wendy’s Old Fashioned
Hamburger restaurants.[2]
Lodging division obtained its first Marriott franchise right in 1997. It has grown the limited-
service hotel business under the brands of the Courtyard, Residence Inn, SpringHill Suites,
Hilton Garden Inn and Homewood Suites. It has developed and operated about a dozen of
properties. There is a plan to develop about a dozen more properties.[1]

The company also started its construction division in 1993 to construct and remodel company's
restaurants in order to reduce construction costs. The division expanded its scope to construct
new hotels. In 2003, the company established Briad Construction Services, LLC to provide
construction and development services for other companies.[9]

Rankings
After the acquisition of Main Street Restaurant Group, The Briad Group moved its rank to
become a major player in restaurant industry and became #1 franchisee of T.G.I. Friday's.[3] The
company also received high ranking in many publications. In June 2008, Nation's Restaurant
News reviewed the company result of the first full year after the acquisition. It ranked the
company #84 in its Top 100 Companies Ranked by U.S. Food Service Revenues. The company
was also ranked #13 in revenue growth among restaurant franchisors, franchisees, and other food
service companies.[10] In August 2008, Franchise Times ranked The Briad Group #8 in its Top
200 Restaurant Franchisees (Monitor 200).[11] In 2009, Multi-Unit Franchisee Magazine ranked
the company #50 among the largest franchisees in every industries.[12]

See also
Companies portal
List of food companies

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