Established Companies Purchase BRIX Holdings Asset
In a significant move, Dallas-based multi-brand franchising company BRIX Holdings has been acquired by Legacy Brands International. This acquisition includes popular brands such as Friendly's, Clean Juice, Orange Leaf, Red Mango, Smoothie Factory + Kitchen, Souper Salad, and Humble Donut Co.
Under the new ownership, Amol Kohli, a multi-unit franchisee of Friendly's Restaurants, will take the helm as Chairman of the Board. Kohli, who has been a part of Friendly's since he was 15, has a long history of success and dedication to the brand. He plans to take Friendly's to the next level in this new chapter of BRIX Holdings' ownership.
John Antioco, Managing Member of JAMCO Interests, who has been instrumental in creating something special for all to enjoy at Friendly's, will maintain his involvement and invest in Legacy Brands International. Sherif Mityas, CEO of BRIX, believes in the company, strategy, and path forward to support existing and new franchisees.
BRIX will remain in Dallas, led by CEO Sherif Mityas and the existing leadership team. Kohli's goal is to promote growth for BRIX's health-focused brands and seek additional acquisitions. However, the strategy emphasizes responsible, phased expansion and brand preservation with modernization.
The growth strategy focuses on infilling existing regional markets first, such as expanding Friendly’s and Clean Juice on the East Coast, before entering new promising markets like Texas. Growth will be measured in increments of "about 25 stores at a time," rather than pursuing aggressive rapid expansion.
Key elements of the plan include preserving the legacy and regional identity of BRIX’s portfolio brands, modernizing the brands technologically and operationally, exploring but cautiously approaching acquisitions, and maintaining continuity and leadership stability. Friendly’s, for instance, will invest in a new mobile app, AI testing, and enhanced business intelligence to modernize its operations.
Kohli's family, loyal team, partners, and faith have been instrumental in his success. He plans to expand Friendly's into markets like Georgia, the Carolinas, and Texas, while also increasing BRIX's overall brand presence. Dilworth Paxson represented Legacy Brands International in the deal, while Gibson, Dunn & Crutcher represented the sellers.
In conclusion, the strategic growth plan for BRIX Holdings under the new ownership of Legacy Brands International and Amol Kohli focuses on steady, thoughtful geographic expansion, modernization of legacy brands, and selective brand acquisition. Kohli's confidence in the partnership to grow the BRIX family of brands is evident, and he looks forward to a bright future for these iconic brands.
