If youâ€™re dressed to the nines and sitting next to someone in jeans and T-shirt, everybody is going to feel at home.â€
Bob Hartnett, Houlihanâ€™s chief executive officer
Houlihanâ€™s Restaurants Inc., flush with $68 million to spend, is embarking on the next phase of a national expansion that will add 12 new locations by year end.
Already, Houlihanâ€™s has 30 company-owned restaurants in some phase of development. Some of those are in markets new to the Leawood-based casual dining chain, including San Antonio, Dallas, Charlotte, N.C., and Denver.
In addition to expanding its portfolio of corporate-owned stores, Houlihanâ€™s is focusing on developers that can build out entire markets. By year end, the company, which is expected to do $350 million in sales this year, will have 115 locations.
â€œReally, we want to grow two ways, and weâ€™re excited about what weâ€™re building,â€ said Bob Hartnett, Houlihanâ€™s chief executive officer. â€œWe think weâ€™ll get really good returns on our invested capital.Houlihanâ€™s has recently received a two-part equity infusion. It got $28 million in private equity from Goldner Hawn Johnson & Morrison, a Minneapolis-based investment firm, and a new $40 million senior credit facility from Wells Fargo Foothill Restaurant Finance, which Goldner Hawn helped place.