Second acquisition in the past 12 months firmly establishes Ampex as a fast-casual operator
Ampex Brands, Au Bon Pain operator and a leading Yum! Brands and 7-Eleven franchisee with more than 500 QSR and fast-casual restaurants and convenience stores, has acquired bellagreen, an American bistro concept with locations in Houston and Dallas. Both companies are based in the Dallas metropolitan area. The deal was finalized on July 18.
“From the first time we set foot in a bellagreen, we knew it would be the perfect addition to the Ampex family,” said Ampex CEO Tabbassum Mumtaz. “bellagreen is pioneering a new path for the fast-casual industry and we look forward to introducing this brand to every major city in the U.S.”
Ampex acquired bellagreen from Bellagreen Holdings. bellagreen is retaining Erik Bednar and Silvestre Reyes in their current roles and all restaurant-level staff. Ampex Chief Financial Officer Eric Easton and Vice President of Growth and Strategy Sameer Mumtaz will play integral roles in the strategic direction and operations for bellagreen.
“We designed bellagreen to make life and Earth more beautiful with every meal we served,” said Jason Morgan, bellagreen CEO. “We are passing the baton to a powerful organization that can grow the brand while retaining that authenticity.”
bellagreen joins Ampex’s growing portfolio of brands including Au Bon Pain, acquired 12 months ago. ABP’s growth strategy is proving successful under Ampex ownership. It has tripled its catering revenue and is expanding with new locations opening or planned for 2022.
Easton and his team are thoughtfully planning the brand’s growth strategy, noting, “bellagreen is positioned to reinvent the industry with its balance between the convenience of fast-casual and the high-quality menu items and personalized service of fine dining. We anticipate a smooth transition and will spend the next few months learning about bellagreen’s great success from our teams and guests.”
In addition to its standalone offerings, bellagreen makes the communities around them more beautiful. The brand believes in doing its part to reduce the ecological footprint by using water-saving devices, alternate power sources, sustainable food and furnishings and reducing waste.
“Guests expect more from their favorite restaurants, and rightly so,” said Mumtaz. “bellagreen meets customers where they are, with healthy, customizable options delivered with near-perfect execution. We look forward to serving its discerning, loyal customers.”
Morgan Kingston Advisors, LLC acted as the exclusive sell-side advisor to bellagreen. Ampex was represented by Tucker Ellis and bellagreen by Wyrick Robbins.
Founded in 2005 by Tabbassum Mumtaz, Ampex Brands is a Yum! Brands and 7-Eleven franchisee with more than 500 QSR, fast casual, and fast-food restaurants and convenience stores. The Richardson, Texas-based company has approximately 6,400 employees across all its brands and locations. The fast-growing company acquired the Au Bon Pain brand in 2021, catapulting the company into the franchisor role and expanding its footprint internationally.