Industry News | July 1, 2011
NRD Buys Out Florida Domino's Franchises
Atlanta-based NRD Holdings, LLC (NRD), one of the country’s largest operators and developers of franchised quick service restaurants, recently purchased 23 Domino’s Pizza units–17 in Jacksonville and six in Orlando.
With this acquisition, the company is now among the top 25 largest Domino’s franchisees in the U.S. The Domino’s acquisition is the company’s first foray into the Florida market and adds to NRD’s existing multi-brand staple of restaurants, which also includes Popeyes in Atlanta and Checkers/Rally’s restaurants in Los Angeles, Phoenix, and Atlanta.
The 23 NRD Domino’s restaurants will employ approximately 17 people per unit; a total of 400 for both Jacksonville and Orlando.With this acquisition, NRD now employs a total of 1,200 people throughout their portfolio of brands.
“NRD’s goal is to maintain our positioning as a top franchisee through superior operations, exceptional portfolio management, and intelligent risk management,” says Aziz Hashim, NRD’s president and CEO. “We define our business strategy as growing through both acquisition and development, as well as aligning ourselves with only the top brands in the industry.
“In this case, we selected Domino’s due to their brand equity and recognition within the industry,” Hashim says.
“We’re thrilled to have Aziz as part of the Domino’s franchise system,” says Scott Hinshaw, Domino’s Pizza executive vice president of franchise operations and development. “His incredible track record of success, outstanding leadership, and commitment to his diverse portfolio of brands make him the best of the best in the franchising industry.”
The growth strategy is completely in sync with retaining brand specific leadership for each of its portfolio holdings, says Wendy Harkness, NRD chief talent officer and chief legal officer. “In keeping with this strategy, NRD has hired Domino’s veteran Cesar Verde as division vice president to manage the Domino’s portfolio. Verde has more than 20 years’ experience with Domino's and was twice named Domino's “Operator of the Year.”
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