Amergent Hospitality Names Mark Whittle EVP of Franchise Development
Amergent Hospitality Group (OTCQB:AMHG) has appointed Mark Whittle as its EVP of Franchise Development to drive rapid franchise growth. Whittle brings over 34 years of experience in developing restaurant locations globally, including roles at Hooters and HOA Brands. The company's recent third-quarter highlights show a 17.8% increase in same-store sales year-over-year and revenue growth from $3.96 million in 2020 to $4.66 million in 2021. Additionally, restaurant operating expenses declined from 76.5% to 60.2%. Amergent operates 43 stores across various brands.
- Mark Whittle's appointment is expected to enhance franchise growth.
- Q3 2021 same-store sales increased by 17.8% compared to Q3 2020.
- Total revenue rose from $3.96 million in 2020 to $4.66 million in 2021.
- Restaurant operating expenses decreased from 76.5% to 60.2%.
- Loyalty club membership increased by 16K to over 283K fans.
- None.
CHARLOTTE, N.C., Nov. 30, 2021 (GLOBE NEWSWIRE) -- Amergent Hospitality Group (OTCQB:AMHG) ("Amergent" or the "Company"), owner, operator and franchisor of multiple nationally-recognized restaurant brands, today announced it has appointed Mark Whittle as its EVP of Franchise Development.
Amergent Hospitality Group's President, Fred Glick, stated, “We are excited to welcome Mark to the team in anticipation of rapid franchise growth though our current brands, as well as recently acquired brands and future contemplated acquisitions. Importantly, Mark has a familiarity with Amergent and its team, having worked previously at Hooters which will enable him to hit the ground running as we continue executing on our strategy, building atop of recent momentum.”
Mark Whittle comes to Amergent having directed or personally having been involved for over 34 years in the successful development of thousands of new restaurant locations globally. He was responsible for directing the activities of numerous real estate, franchise sales, business consultants, asset management and design/construction professionals and providing superior leadership for the growth of various national and international brands, including Little Caesars Pizza, Churchs Chicken, Focus Brands, and most recently as Chief Development Officer for HOA Brands. His experience includes intimate market knowledge throughout the United States, Europe, Asia, Latin America and South Africa.
Whittle commented, “I’m excited to be joining Fred and the Amergent team at what I believe to be an inflection point, evidenced by recently reported strong financial performance. We have a strong foundation to leverage, which will enable me to do what I have done my entire career, grow the franchise side of our business with a goal of reaching greater scale, relevance and profitability.”
The Company recently announced select third quarter 2021 restaurant level highlights which included:
- Overall same store sales for Q3 2021 were up
17.8% compared to Q3 2020 and up7.7% compared to Q3 2019 - Total Revenue increased from
$3.96 million in 2020 to$4.66 million in 2021 - October 2021 same store sales growth continued at
10.1% over 2020 and up12.2% to 2019, led by both LBB which was up12.3% to 2020 and18.4% to 2019 and BGR up26.1% to 2020 and11.3% to 2019 - Total Restaurant Operating expenses declined from
76.5% to60.2% - Loyalty club membership for the 3 burger brands in Q3 2021 increased by 16K fans now exceeding 283K fans. PizzaRev has an additional 262K loyalty members.
- Acquired the PizzaRev brand and re-opened Glendale, CA in November. Plan to re-open two additional locations in Placentia, CA and Studio City, CA in Q4
- Opened LBB University of OR in the student center on 11/22/2021
Amergent’s operations include 43 stores, consisting of 28 company owned and 15 franchised locations. The Company's brands include Little Big Burger, Burgers Grilled Right, American Burger Company, PizzaRev, Jantzen Beach Wings and the Owls Nest gaming location.
About Amergent Hospitality Group
Headquartered in Charlotte, NC, Amergent Hospitality Group owns, operates, and franchises fast, casual, and full-service restaurant brands, including American Burger Company, BGR - Burgers Grilled Right, Little Big Burger, and Hooters gaming venue. For more information, please visit: www.amergenthg.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the closing of the merger and Sonnet’s operations following the closing of the merger. All statements pertaining to Amergent Hospitality Group's expectations regarding future financial and/or operating results, potential for our tests and services and future revenues or growth in this press release constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to, statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties discussed in the Amergent Hospitality Group's Form 10-K for the year ended December 31, 2019, along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Amergent Hospitality Group disclaims any obligation to update these forward-looking statements.
Amergent Hospitality Group Investor Contact:
Jason Assad
678-570-6791
IR@amergenthg.com
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