ACON Investments LLC and its affiliates have today announced the sale of its equity interests in RMH Franchise Holdings to Apple Sun LLC; financial terms of the transaction were not disclosed. Apple Sun LLC is an affiliate of Sun Holdings.
“We are pleased that this sale will allow Sun Holdings, a top-tier multi-unit owner and developer with significant operational expertise to assume ownership. We are hopeful that the diversity and experience they bring to RMH will assist the system as it grows” said Daniel Jinich, a managing partner of ACON.
RMH was founded by Guillermo Perales in 1997 and based in Dallas, Texas, and has grown to become Applebees second largest franchisee with 131 restaurants across 14 states. Sun Holdings’ portfolio contains the third-largest number of franchisees in the U.S. and supports companies that operate multiple brands and concepts.
“Our close partnership with ACON has helped us achieve record unit volumes and profitability this year, and I am excited to now become a part of Sun Holdings. I look forward to continuing in my leadership role at RMH and to opening new locations as part of the Sun Holdings organization,” said Mitch Blocher, CEO of RMH.
“Since its founding, Sun Holdings has taken a long-term, disciplined approach when making growth investments. RMH and Applebee’s not only fits our criteria perfectly, but allows us to break into the full service, casual dine vertical,” said Perales
“We are excited to be partners with a leader in the casual dining arena. In addition, we are impressed with Applebee’s comeback and double-digit same-store sales growth in Q1. Their long-term performance combined with a plan for continued growth, has not only cemented Applebee’s leadership position, but has prepared the brand for an expanded leadership role, in the segment.
“We see tremendous opportunity in this premium brand, backed by an innovative culture and highly attractive economics. This vertical significantly expands Sun Holdings’ infrastructure and potential for future growth and expansion opportunities.”
