Dallas, Texas (September 15, 2008)
A group of investors led by Rich Waring has acquired The Quintessence Corporation, franchisor of Texadelphia, The Original Texas Cheesesteak brand restaurants. There are currently 19 restaurants open in Dallas-Fort Worth, Austin, Houston, San Antonio, Texas, and Norman, Oklahoma. Terms of the deal were not disclosed. Waring had most recently been with Applebee's Services Inc, and previously with industry consulting firm, Batrus Hollweg International.
The chain offers a casual, Austin, Texas atmosphere where the primary focus is on freshly grilled Certified Angus Beef® and chicken cheesesteak sandwiches served with tortilla chips and house made salsa. Texadelphia features specialty sandwiches, burgers, salads and beverages including a broad selection of domestic and import beers. The chain is also widely known for made from scratch signature sauces, queso and guacamole.
Waring stated that the company has a three pronged plan. "Texadelphia's ongoing success will come through building greater awareness of our brand, profitability of our franchisees and a great experience for our guests." The company headquarters will be relocated from Austin to Dallas, Texas.
Industry veterans George Samaras, Craig Weichmann and Henry Leonard were advisors in the purchase from founder, Joel Stanley. For more information on Texadelphia, visit the company's website at texadelphia.com