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Latest Paul Mangiamele News

National casual dining chain plans to open 100 restaurants in California starting here

Apr 8, 2015

National casual dining chain plans to open 100 restaurants in California starting here Apr 8, 2015, 2:46pm PDT Updated: Apr 8, 2015, 2:52pm PDT Send this to a friend Thank you for sharing. Your email has been sent. Email address of friend (insert comma between multiple addresses): Your email address: Paul Mangiamele stands in the doorway of the Santa Clara Bennigan's. Staff San Francisco Business Times In the world of Bay Area restaurant news, Bennigan's is not a name that's heard often, but that could change. The once-bankrupt casual dining chain is making a comeback, bringing with it 100 new locations throughout California. The Dallas-based restaurant chain's expansion into California is starting with the Bay Area. It opened a spot in Santa Clara already, and two more spots in Fremont and San Jose are under way — the first of 100 restaurants that will include both Bennigan's and its sister brand, Steak and Ale, along with a version called Bennigan's on the Fly that will show up in airports and other non-traditional eatery spaces. Paul Mangiamele , chairman and CEO of Bennigan's parent company Legendary Restaurant Brands, has executed a master development agreement with Narender Taneja , franchise veteran and owner of the Bennigan's in Santa Clara, to lead the charge in the brand's California expansion. While no leases have been signed besides the Fremont and South Bay restaurants, Mangiamele said that a large number of the Bennigan's and Steak and Ale restaurants in California will land in the Bay Area. "There is a lot of population there, and people (there) love to eat out, so we see plethora of growth being in Northern California and the Bay Area," Mangiamele said in an interview with the Business Times. "We also see lots of opportunity for Los Angeles, San Diego, and up through Bakersfield. " Each restaurant will bring with it 100 to 120 jobs. The total number of jobs for the Bay Area from the eateries could be in the thousands. It's an aggressive growth clip for a chain that was facing bankruptcy and a slew of closures not too long ago. Page 1

Paul Mangiamele Acquisitions

1 Acquisition

Paul Mangiamele acquired 1 company. Their latest acquisition was Bennigan's on February 17, 2015.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/17/2015

$99M

Acquired - II

1

Date

2/17/2015

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired - II

Sources

1

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