Catalina Restaurant Group, parent company of Coco's Bakery Restaurant and Carrows Restaurants, recently announced the company's merger with Delaware-based Zensho America Corporation (ZAC), a subsidiary of Tokyo-based Zensho Co., Ltd. This merger makes Catalina Restaurant Group a fully-owned subsidiary of ZAC. The value of the transaction was not disclosed.
"Zensho's United States subsidiary has acquired all of the shares of Catalina Restaurant Group, which operates restaurant chains under the Coco's Bakery Restaurant and Carrows Restaurants brands, to further its goal of providing safe and delicious food to everyone in the world," said Mr. Kentaro Ogawa, Zensho Chairman of the Board and CEO.
Praising Catalina Restaurant Group's strong brands, Mr. Ogawa said that ZAC expects to strengthen and evolve the Coco's and Carrows restaurants within the United States market by integrating the accumulated knowledge on both sides and utilizing Zensho Group's Mass Merchandising System.
Zensho Co., Ltd. (TOKYO: 7550), led by Mr. Ogawa was incorporated June 30, 1982. The company has an employee base of 15,258 and operates 1,859 restaurants throughout Japan. ZAC, also led by Ogawa, was established on October 18, 2004. Annual sales volume for the Zensho Group from April 2005 to March 2006 was 149.3 billion yen.
Samuel Nicholas Borgese, current President of Catalina Restaurant Group, Inc., will remain as Catalina Restaurant Group's Chief Executive Officer and President, following the merger.
"Zensho's broad experience in providing quality food services globally and reputation for unparalleled customer service supports Catalina Restaurant Group's mission, and this merger is opportunistically timed to support the growth plans of both Catalina Restaurant Group's food service brands in 2006 and beyond," said Mr. Borgese.
Currently, there are 210 restaurants including 114 Coco's Bakery Restaurants (23 franchised units) and 96 Carrows Restaurants (11 franchised units) in the Western United States. Under the ownership of Catalina Restaurant Group, the restaurant company employee base exceeds 8,000. For more information on Catalina Restaurant Group please visit www.catalinarestaurantgroup.com. For information on Coco's Bakery Restaurants visit www.cocosbakery.com, and for more information on Carrows visit www.carrows.com.
"Zensho's United States subsidiary has acquired all of the shares of Catalina Restaurant Group, which operates restaurant chains under the Coco's Bakery Restaurant and Carrows Restaurants brands, to further its goal of providing safe and delicious food to everyone in the world," said Mr. Kentaro Ogawa, Zensho Chairman of the Board and CEO.
Praising Catalina Restaurant Group's strong brands, Mr. Ogawa said that ZAC expects to strengthen and evolve the Coco's and Carrows restaurants within the United States market by integrating the accumulated knowledge on both sides and utilizing Zensho Group's Mass Merchandising System.
Zensho Co., Ltd. (TOKYO: 7550), led by Mr. Ogawa was incorporated June 30, 1982. The company has an employee base of 15,258 and operates 1,859 restaurants throughout Japan. ZAC, also led by Ogawa, was established on October 18, 2004. Annual sales volume for the Zensho Group from April 2005 to March 2006 was 149.3 billion yen.
Samuel Nicholas Borgese, current President of Catalina Restaurant Group, Inc., will remain as Catalina Restaurant Group's Chief Executive Officer and President, following the merger.
"Zensho's broad experience in providing quality food services globally and reputation for unparalleled customer service supports Catalina Restaurant Group's mission, and this merger is opportunistically timed to support the growth plans of both Catalina Restaurant Group's food service brands in 2006 and beyond," said Mr. Borgese.
Currently, there are 210 restaurants including 114 Coco's Bakery Restaurants (23 franchised units) and 96 Carrows Restaurants (11 franchised units) in the Western United States. Under the ownership of Catalina Restaurant Group, the restaurant company employee base exceeds 8,000. For more information on Catalina Restaurant Group please visit www.catalinarestaurantgroup.com. For information on Coco's Bakery Restaurants visit www.cocosbakery.com, and for more information on Carrows visit www.carrows.com.