MEMPHIS, Tenn. -- Restaurant and real-estate company Cambridge Franchise Holdings has acquired 42 Burger King restaurants and five All-in-One convenience stores in Tennessee, Arkansas and Mississippi from Memphis, Tenn.-based Mirabile Investment Corp., which was owned by Dr. Joseph Mirabile.
“Joe Mirabile built a phenomenal business with a focus on operations and restaurant quality,” said Ray Meeks, CEO of Cambridge Franchise Holdings. “We are excited to work together with our new team members and are committed to maintaining the high standards of operations and development set by Joe and his team.”
Mirabile said, “I am pleased that Cambridge Franchise Holdings is the new operator, as I have witnessed Ray’s commitment to excellence over the years. We wish them the best of luck.”
This is the largest of 15 restaurant and real-estate acquisitions that Cambridge Franchise Holdings has completed since its formation in 2014. Cambridge Franchise Holdings said it is one of Burger King’s largest franchisees.
Mirabile is a real-estate developer and restaurant operator with extensive holdings in five states. In addition to the Burger King restaurants, Dr. Mirabile has developed numerous commercial properties and served on the faculties at three major universities.
New York City-based Cambridge Franchise Holdings was formed by Matt Perelman and Alex Sloane in partnership with Ray Meeks, a 30-year Burger King franchisee and seasoned restaurant operator.
Cambridge Franchise Holdings owns and operates 85 restaurants, five convenience stores and real estate in Alabama, Arkansas, Louisiana, Mississippi, North Carolina, Tennessee and Virginia.
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