Fast Casual magazine has released its annual list of the Top 100 Movers & Shakers in the Casual Dining industry, and this year Spicy Pickle™ restaurants has been named to the number 25 spot for 2007. The list ranks the most influential fast casual restaurant chains in the U.S., and over 450 chains were judged on a variety of factors, from marketing tactics to comp and revenue to unit strength, by a panel of six restaurant industry experts.
In additional to being evaluated and selected, it is an additional honor to be among the top 25, as the publishers of this list take into account the company’s unit size and revenue growth. In the case of Spicy Pickle, they had a great year in 2007 which was headlined by an initial offering of public stock. Fast Casual magazine lauded the $1.74 million raised in Spicy Pickle’s September IPO, noting that it occurred “in an economy when Wall Street wasn’t always kind to restaurants.” Other highlights included: raising nearly $6 million in a private securities offering; 39 franchise developments sold during the year; and 20 new stores opened, bringing the Spicy Pickle system to 36 stores in 12 states.
“Spicy Pickle is widely seen as one of the most promising young concepts in the fast casual segment of the restaurant industry. Our recent success, combined with Fast Casual magazine’s ranking, pays testimony to the momentum we’ve established,” said Marc Geman, President and CEO of Spicy Pickle Franchising, Inc. “All of us at Spicy Pickle look forward to continued implementation of our long-term growth plan in 2008, which will allow us to bring our culinary-inspired menu to more people, in more places, than ever before.”
The hallmark of a Spicy Pickle restaurant is quality, service and an enjoyable atmosphere, underscored by a menu that includes a mix of paninis, subs, Neapolitan pizzas and salads. Its insistence on quality throughout its business has made Spicy Pickle a favorite of both patrons and industry analysts, not to mention investors.
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