Souper Salad Inc. has bought Grandy’s Restaurants through a bankruptcy sale, the companies said Thursday.
Lewisville-based Grandy’s will become a wholly owned subsidiary of Souper Salad. Executives with San Antonio-based Souper Salad did not disclose the purchase price. Souper Salad bought the assets from Spectrum Restaurant Group Inc., which sold the operations at a Feb. 5 auction sanctioned by the U.S. Bankruptcy Court for the Central District of California.
Irvine, Calif.-based Spectrum filed for Chapter 11 bankruptcy protection in 2006. As part of that reorganization effort, the company planned to spin-off its Grandy’s brand and other low-performing concepts.
Souper Salad is the largest soup and salad bar family restaurant in the Southwest United States. The company has 87 stores that sell freshly prepared items such as soup, salad, pasta salad, baked potatoes and bread.
Grandy’s is an operator and franchisor of family quick-service restaurants. The company has 72 stores in Texas, Oklahoma and Indiana that sell breakfast, lunch and dinner. Grandy’s is known for its Southern-style dishes, such as shrimp, catfish and fried chicken.
Souper Salad bought substantially all of Grandy’s assets, including one Grandy’s-owned store, four stores managed by Grandy’s and all the marketing, management and operations support for 67 franchised restaurants.
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