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Our experienced franchise team represents multi-unit franchise owners involved in significant business transactions throughout the United States, especially in the QSR industry. Our extensive industry knowledge gives us a full appreciation of the issues facing restaurant entrepreneurs and the insight to resolve them quickly.

Our Approach

In large, multi-unit franchise transactions, there are so many different aspects to coordinate, and potential pitfalls that it requires careful planning and efficient management. We add value for our clients by quickly focusing on the meaningful issues in a business transaction and efficiently leading the parties through the structuring, negotiation, documentation, and successful closing of each deal. Our proven approach consistently results in the successful closing of transactions on our client’s desired timetable.


  • Purchase and sale of franchise businesses, specializing in the acquisition and disposition of multi-unit operations;
  • Negotiation and counseling on complex financing transactions, including multi-lender loan restructurings and sale/leaseback transactions;
  • Negotiation and structuring of venture transactions involving franchised businesses;
  • Structuring franchise relationships and review and preparation of franchise and license agreements;
  • Structuring and planning key relationships among owners, operators, executives, investors and lenders involved in franchise businesses;
  • Evaluation, counseling and negotiation regarding area development agreements, real estate purchases and sales, real estate leasing documentation and franchise leases;
  • Counseling on intellectual property issues involved in the franchise relationship, including trademarks, service marks, copyrights and trade secrets.

Notable Experience

  • Sales
    • 65 Burger King units located throughout Oregon and Washington.
    • 64 KFC units (including 25 fee properties) located throughout Florida, Kansas, Missouri, Illinois, Iowa and Nebraska.
    • 56 Burger King units (including 40 fee properties) located throughout Illinois, Ohio and Pennsylvania.
    • 32 Taco Bell units (including 21 fee properties) located in Florida.
    • 28 Taco Bell and other Yum! Brand units (including 15 fee properties) located in Georgia.
  • Acquisitions
    • 76 Taco Bell units located throughout the Northeastern U.S.
    • 80 Pizza Hut units located throughout the Southeastern U.S.
    • 77 Pizza Hut units located throughout Texas.
    • 40 Burger King units located in Pennsylvania, New Jersey, New York and Delaware
    • The Fazoli’s brand franchise operations, including 125 corporate owned Fazoli’s units operating throughout the continental U.S.
    • 41 Hardee’s units located throughout Tennessee.
    • 44 Pizza Hut units located throughout Georgia, Virginia and Florida.
  • Financings
    • $110M of senior secured debt for Taco Bell franchisee.
    • $90M of senior secured debt for Pizza Hut franchisee.
    • $33M of senior secured debt for Taco Bell franchisee.
    • $22M of senior secured debt and revolving debt for Church’s franchisee.
    • $14.5M of senior secured debt for Taco Bell franchisee.