Finalizes deal to acquire Furr’s Fresh Buffet and Dynamic Foods out of bankruptcy.
San Antonio, TX (RestaurantNews.com) San Antonio-based Food Management Partners (FMP) has reached an agreement to acquire Furr’s Fresh Buffet and Dynamic Foods.
Included in the transaction are 25 Furr’s Fresh Buffet and Furr’s Family Dining restaurants operating in five states and the Dynamic Foods production and distribution facility based in Lubbock, Texas. Over time, management functions for Furr’s will be absorbed into the San Antonio corporate office, with on-site management of Dynamic Foods continuing in Lubbock.
“We are proud to add another heritage brand to our portfolio,” says Peter Donbavand, Vice President of Business Development for FMP. “And with the inclusion of Dynamic Foods, we anticipate providing continued high-quality dining options to the existing client base and vertically integrating them into our existing stable of restaurants where possible.”
Dynamic Foods prepares and distributes multiple lines of fresh and frozen products for contract food service and grocery stores, as well as restaurants and retail establishments.
The Lubbock facility employs approximately 200 employees and encompasses over 220,000 square feet of space, including 130,000 square feet for food processing and 50,000 of frozen storage. Additionally, Dynamic Foods operates a modern trucking fleet out of the facility.
“Acquiring these assets not only allows us to expand our operational holdings, but also allows us to impact our current restaurant-level efficiencies as well as expand into other sales and growth channels,” Donbavand said.
About Food Management Partners
Privately held Food Management Partners is a multi-concept operator of both franchised and independent brands co-founded by three industry veterans in 1999. With the addition of Furr’s Fresh Buffet, FMP will operate restaurants in 22 states. For more information, contact (210) 403-3725, info(at)foodmps(dot)com or visit http://www.foodmps.com.
Food Management Partners
210-403-3725 Ext: 218