Bennigan’s and Brixmor Property Group in partnership to add 30 locations
Dallas — Bennigan’s Franchising Co. and Brixmor Property Group announced a strategic partnership to add Bennigan’s restaurants nationwide into Brixmor’s portfolio of shopping centers.
The partnership will include positioning Bennigan’s signs at select existing buildings and pad site locations within the Brixmor portfolio of shopping centers, promoting pre-approved restaurant space and franchise opportunities within the company’s targeted growth markets.
“This exciting partnership with Brixmor will add tremendous velocity to our development program and will compress the time period from prospect inquiry to restaurant opening. We have selected a dozen high potential markets for Bennigan’s growth and currently have 30 approved sites with signage about our unique offering," said Paul Mangiamele, Bennigan’s president and CEO.
7-Eleven acquires 74 West Virginia-area locations from its licensee
Dallas — 7-Eleven announced today that it has closed a deal to acquire 74 operating convenience stores and two land parcels from Prima Marketing LLC, a 7-Eleven licensee with stores in West Virginia, Ohio, Pennsylvania and Kentucky. The bulk of the stores being purchased are in West Virginia.
Terms of the deal were not disclosed.
"This acquisition fits well with our accelerated growth strategy and gives us an opportunity to expand in the West Virginia market, building on our already strong mid-Atlantic presence," said Stan Reynolds, 7-Eleven, executive VP and CFO.
Toys “R” Us continues to expand in China
Wayne, N.J. – Toys “R” Us opened its first stores in Beijing last weekend, marking its continued expansion across China.
The opening of the Beijing stores marks the retailer’s debut in Northern China. Two additional locations are slated to open in September in Tianjing Galaxy Mall in Northern China and Nanning Mixc in Southern China. These four new locations add to the company’s already healthy presence in the country, including stores in Guangzhou, Shanghai and Shenzhen. By the end of September, the retailer will operate 30 stores across 21 cities throughout China.
“As a company, international expansion is a key part of our overall strategy, and we are committed to further growth and investment in our business in China,” said Jerry Storch, chairman and CEO. “Our expansion into Beijing is an important next step as we aggressively extend the Toys “R” Us brand throughout Asia.”
Last October, Toys “R” Us acquired the majority stake in its business in Greater China and Southeast Asia from Li & Fung Retailing. With this agreement, the existing Toys “R” Us licensed operations in this region became 70% majority owned and controlled by Toys “R” Us and 30% owned by Li & Fung Retailing.
Since that time, the company has continued to expand across the region, opening 10 new stores across Brunei, China, Hong Kong, Malaysia, Singapore, Taiwan and Thailand. In total, the company now operates more than 100 locations in Southeast Asia and Greater China. In addition, 14 stores in the Philippines and Macau continue to be operated under a license agreement.