Togo’s Eateries, Inc., commonly known as Togo’s, is a popular fast-food franchise renowned for its specialty sandwiches.
Founded in 1971 in San Jose, California, Togo’s has grown into a beloved brand with numerous locations across the United States. Over the years, the franchise has changed hands several times, reflecting its evolving business strategies and market presence. This article delves into the current ownership of Togo’s, its history of ownership changes, and the implications of these transitions for the brand.
History of Togo’s Ownership
To understand the current ownership of Togo’s, it’s essential to explore the franchise’s ownership history:
1. The Early Years
Togo’s was founded by Tom Neumann, who opened the first Togo’s in a small sandwich shack near San Jose State University.
And Togo’s franchise cost involves an initial investment ranging from $277,000 to $530,000, which includes a franchise cost of $30,000. The restaurant quickly gained popularity for its generous portions and fresh ingredients, setting the stage for future growth.
see also: Who Is Togo’s Franchise Biggest Competitor?
2. Expansion and Initial Sales
In the 1980s, Togo’s expanded rapidly, opening multiple locations and attracting attention from larger corporations. In 1997, Togo’s was acquired by Dunkin’ Brands, the parent company of Dunkin’ Donuts and Baskin-Robbins. This acquisition aimed to diversify Dunkin’ Brands’ portfolio and leverage Togo’s potential for national expansion.
3. Acquisitions and Divestitures
Under Dunkin’ Brands, Togo’s continued to grow, but by the early 2000s, the company decided to divest non-core assets to focus on its primary brands. As a result, Togo’s was sold to a private equity firm, which marked the beginning of several ownership changes. In 2007, Mainsail Partners, a San Francisco-based private equity firm, acquired Togo’s with plans to revitalize the brand and expand its market presence.
Present Ownership: Nimes Capital
As of now, Togo’s is owned by Nimes Capital, a private investment firm based in Los Angeles. Nimes Capital acquired Togo’s in 2015, marking another significant milestone in the franchise’s history.
About Nimes Capital
Nimes Capital is the private investment arm of Nazarian Enterprises, a multi-generational family office with a diverse portfolio of investments across various industries, including real estate, hospitality, entertainment, and consumer products. Nimes Capital focuses on long-term investments and aims to build sustainable value in its portfolio companies.
Strategic Goals
Nimes Capital’s acquisition of Togo’s was driven by several strategic goals:
Brand Revitalization: Nimes Capital sought to revitalize the Togo’s brand by investing in marketing, menu innovation, and store remodels.
This effort aimed to enhance the customer experience and attract a broader audience.
Expansion: One of the key objectives was to expand Togo’s footprint both in existing markets and new regions. Nimes Capital planned to leverage its resources and expertise to accelerate Togo’s growth and increase its market share.
Operational Efficiency: Nimes Capital aimed to improve operational efficiency within Togo’s franchise network. This involved streamlining supply chain processes, optimizing store operations, and implementing technology solutions to enhance overall performance.
Impact of Nimes Capital’s Ownership
Nimes Capital’s ownership has had a significant impact on Togo’s in several ways:
Menu Innovation: Under Nimes Capital, Togo’s has introduced new menu items and limited-time offers to keep the menu fresh and appealing to customers. These innovations have helped attract new customers and retain loyal ones.
Store Remodels: Nimes Capital has invested in modernizing Togo’s locations, giving them a fresh and contemporary look.
These remodels have improved the overall dining experience and created a more inviting atmosphere for customers.
Marketing Campaigns: Nimes Capital has launched targeted marketing campaigns to increase brand awareness and drive customer engagement. These campaigns have utilized both traditional and digital marketing channels to reach a wider audience.
Franchise Support: Nimes Capital has provided extensive support to Togo’s franchisees, including training programs, marketing assistance, and operational guidance. This support has helped franchisees improve their business performance and achieve long-term success.
Future Outlook
The future outlook for Togo’s under Nimes Capital’s ownership appears promising. The strategic initiatives implemented by Nimes Capital have positioned Togo’s for continued growth and success. Several factors contribute to this positive outlook:
Expansion Plans: Togo’s continues to pursue expansion opportunities, particularly in new markets where the brand has untapped potential.
This expansion is expected to drive revenue growth and increase Togo’s market presence.
Menu Diversification: Togo’s plans to further diversify its menu to cater to changing consumer preferences. This includes introducing healthier options, plant-based offerings, and innovative sandwiches that align with current food trends.
Technology Integration: Nimes Capital is committed to integrating technology into Togo’s operations. This includes enhancing online ordering capabilities, implementing mobile apps for customer convenience, and utilizing data analytics to optimize business decisions.
Community Engagement: Togo’s aims to strengthen its community engagement efforts by supporting local initiatives and charitable causes. This approach not only fosters goodwill but also enhances the brand’s reputation and customer loyalty.
Conclusion
Togo’s, a beloved sandwich franchise with a rich history, is currently owned by Nimes Capital, a private investment firm known for its long-term investment approach and commitment to building sustainable value. Under Nimes Capital’s ownership, Togo’s has experienced significant growth and transformation, with a focus on brand revitalization, menu innovation, and expansion. The future looks bright for Togo’s as it continues to evolve and adapt to changing market dynamics, ensuring its position as a leading player in the fast-food industry.