The owners of Huddle House, Inc. have completed its purchase of Perkins Restaurant & Bakery, the storied and iconic chain with approximately 325 locations, which has become a staple in communities throughout the United States and Canada. The transaction closed October 22, 2019. The terms of the purchase were not disclosed.
The Huddle House executive leadership team will manage Perkins out of its Atlanta headquarters, running each of the concepts as separate brands, yet leveraging resources and proven strategies to build efficiencies. There are no plans to convert any existing units to Huddle House restaurants or vice versa.
“Strategically, this is a very good fit. Both Huddle House and Perkins are breakfast-first concepts providing quality, homestyle meals to communities large and small,” says Huddle House’s CEO Michael Abt, who is the top executive of both brands. He further commented “This acquisition is by careful design, as the brands fit well together serving complementary markets but supported by shared resources.”
Between Huddle House and Perkins, there are more than 700 locations open or under development that generate collectively over $800 million in sales.
“Both brands are strong,” says Abt. “The Huddle House team and I are very excited to combine the talents of both companies. I want to thank the entire Perkins team for doing a tremendous job helping to revitalize the Perkins concept over the past year. Moving forward, we are committed to the development of each brand by providing the leadership, proper resources and strong financial backing to further strengthen and grow each brand.”
Abt adds, “The addition of Perkins has fueled tremendous excitement and enthusiasm across the company, and we’re energized by the synergies that will enable us to ramp up growth for both brands.”