Today, Roark's portfolio companies run the gamut from health and beauty to home and commercial cleaning chains and, of course, restaurants.
He told Roark employees"about identifying trends of consolidation in the hotel industry, in the '90s, and really seeing how that would benefit the consumer, how it would be better for employees, how it would make labor more efficient." ."He has conviction, passion, unbelievable honesty, openness, and he's loyal and trustworthy. He refuses to follow fads, trends, or popularity. He follows what he believes."Although Aronson had just spent the past five years growing a chain of 27 regional hotels, he took to restaurants quickly.
Insider spoke with two current and one former franchisees of Maaco, the leading collision and automotive-repair service in Roark's Driven Brands portfolio of about 10 companies. Each compared Roark's management favorably against Driven Brands' prior owner, Harvest Partners, though both expressed unease at what they viewed as a corporate strategy of growth by acquisition at the expense of increasing the performance of the existing business.
Unlike other private-equity companies, Powell said Roark is not just interested in the hard numbers when buying a brand. While the"books" are important, Roark spends extra time — and money — scouting the intangibles of a restaurant. Roark takes this holistic approach to determine if the restaurant chain meets the company's stress test: Is this a brand that diners love and that franchisees will want to grow?Pace said the same vetting occurred when they looked at Jamba.Their approach was to get ahead of everybody else."
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