Famous Dave's of America will open its first international location in Canada in Winnipeg in June 2012, the company reports, in a deal with local native councils.
A subsidiary of Winnipeg's Tribal Councils Investment Group (TCIG) has acquired the first Canadian franchise of Famous Dave's barbecue restaurant, after nine months of negotiations.
Winnipeg-based TCIG is a private equity investment fund owned by the seven tribal councils of Manitoba.
Famous Dave's chief executive Christopher O'Donnell said the company chose TCIG because of its growth and diversified business. TCIG also owns and operates the master franchise of Wok Box, a quick-food-service Asian concept, and Arctic Beverages Ltd., which services the largest territory in Canada with Pepsi and Frito-Lay products.
Minneapolis-based Famous Dave's was founded in 1994. Based on its U.S. pricing formula, a Famous Dave franchise requires a minimum investment of $630,2500, with an initial franchise fee of $40,000, plus a 5 per cent royalty fee.
from Western Investor November 2011
