This year the company will open 11 new units in the US –six inexisting markets and five in new ones. In addition, its$14.3-million acquisition of Vancouver, BC-based BoathouseRestaurants is expected to close in mid-March. A majority of thenew domestic restaurant units will open in the final quarter ofthis year.

The "backloading of new openings," Douglas Schmick, chairman andCEO, said during a conference call, "takes place in lifestyledevelopments in which developers may be a little behind ondevelopment. Then they try to open for the holiday season, so ourunits fall into the November/December scheme."

The Boathouse acquisition marks the locally based restaurateur'sentry into Canada. There are five Boathouse units in operation anda sixth is under construction, scheduled to open in mid-July.During the conference call, Emanuel Hilario, CFO and VP of finance,said the five Boathouse units now produce $19 million in annualrevenues.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.