For those that may not be aware, I would like to take this opportunity to introduce to you the new BurgerBusters. In December of last year, BurgerBusters sold its Roanoke, Charlottesville, and Harrisonburg, Virginia stores along with all of its North Carolina stores to Charter Foods. This geographical adjustment has allowed us to continue operating in a more narrowly focused area as a lean and mean 80-unit system. I would like to take this opportunity to thank everyone for all of their years of service that has led to this moment.
One of the additional driving forces of this transaction was BurgerBusters’ industry-leading commitment to development. Between our meticulous research and you, our eyes in the field informing us on new and growing trade areas, we were able to develop 44 new locations over the last 10 years. This does not include the numerous remodels or scrapes and rebuilds done over that period as well. All of this development allowed us to strengthen our company and helped lead us to where we are today: a company that is as strong financially as it has ever been with still plenty of room to grow. With that spirit in mind, development continues to be at the forefront of our business. Since I last shared with you, we were able to complete and open two new locations (Unit No. 35067 Elizabeth City, NC since sold to Charter Foods and Unit No. 34372 Hagerstown, MD), completed major remodels at four locations (Unit No. 33517 Newport News, VA; Unit No. 4775 Chester, VA; Unit No. 19680 Stephens City, VA; and Unit No. 16941 Colonial Heights, VA), and installed interior digital menu boards at 16 locations. There are currently two new stores under construction slated to open shortly (Chesapeake, VA and Richmond, VA) as well as one offset and two stores that are part of the Charter deal (Greensboro, NC; Harrisonburg, VA; and Kernersville, NC). Furthermore, construction is slated to begin shortly on two additional new restaurants (Portsmouth, VA and Strasburg, VA) and two major remodels (Richmond, VA and Mechanicsville, VA). The remainder of this year we should see two new stores under construction, five successor remodels, two mid-term remodels, and over fifteen digital menu board conversions being completed. As you can see, even with the reduction in our geography, BurgerBusters continues to grow and continues working to ensure that it boasts first-class facilities so that our customers and employees have a first-class experience.
I would like to thank the BurgerBusters Senior Team for their hard work and leadership they provide this company on a daily basis and, more specifically, for their efforts in closing the deal with Charter Foods. COO Joe Mangano, CFO Greg Rowland, and Director of Human Resources Kirk Jester are committed to the principles that this company was founded on; dedication, loyalty, and ingenuity. I am proud to work alongside them. Lastly, I would also like to once again express my sincere appreciation to all BurgerBusters employees. Your hard work and dedication do not go unnoticed. It is my genuine hope that 2022 be a year of continued blessings and improvement for this company and for all of you.
By: Tassos Paphites
Chairman/CEO
