Olathe, KS - Standard Brands of America Inc. said Monday it acquired The Lionshare Group Inc., a Tampa, Fla.-based meat distributor and restaurant operator.
Standard Brands has been developed to comprise and expand three main divisions: supply-side meat companies; demand-side franchise restaurant chains; and specialty restaurants.
The Lionshare Group recently completed the acquisition of a wholesale meat distribution company, located in Florida, with 1997 revenues in excess of $7 million. In addition, the company opened its first "Ragin' Rib" restaurant on Jan. 20, 1998, which offers home delivery, take-out and dine-in service.
The restaurant is on track to exceed $500,000 in annual sales. The store has no debt and break-even is $300,000 in sales, according to a Standard Brands news release.
The Lionshare Group is a food and hospitality holding company which is currently in negotiations for the acquisitions of several meat distribution plants and restaurant chains.
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