Arby's Attracts Parikh Brothers With 50-Store Deal
The Arby's brisket sandwich is an example of its tagline "We have the meats," which is one reason why Amish Parikh said he likes the brand.
The Parikh brothers added a new brand to their restaurant portfolio, inking a development agreement this week to open 50 new Arby’s restaurants over the next eight years, and purchasing 18 corporate-owned Arby’s restaurants in Baltimore, Maryland, and Harrisburg, Pennsylvania.
Amish Parikh, president of the Parikh Network with his brother, Ashish, CEO, said their relationship with Atlanta-based Arby’s management, in particular the chief development officer and the vice president of real estate, attracted them to the deal. “They presented the facts to us and we did our own due diligence, and upon meeting with the upper brass” it felt like a good deal, he said.
Arby’s has “strong opportunities to branch off of the roast beef, as they’re working on the new tagline—it’s all about the meats,” Parikh believes. They plan to build stores from Maryland all the way up the Northeast, where they have a network of restaurants already established. A separate team will head up the Arby’s project, to avoid diminishing their current operation. In a statement, Arby’s CEO Paul Brown called the pair “incredibly impressive.”
Parikh Network owns 120 Popeyes stores, and ranked No. 76 on the Franchise Times Restaurant 200 list of the largest restaurant franchisees in the United States, published in August. Parikh remains bullish on Popeyes, saying they “continue to do really well with Popeyes.”