Quiznos facts |
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Wed, 11 Jul 2007 20:59
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(AP) - FOUNDED: Quiznos was founded in 1981 in Denver's Capitol Hill neighborhood. Its mission was to set itself apart from other sub shops with a made-to-order, warm sandwich.OWNERSHIP: In 1991, franchise owner Rick Schaden and his father, Dick Schaden, purchased the company and its 18 restaurants. They took it public but converted it to a private operation in a $6.5 million transaction in 2001. Last year, private equity firm J.P. Morgan Partners LLC became an ownership partner and Greg Brenneman later became a partner through his company, TurnWorks Inc.CEO: Greg Brenneman, 45, was named chief executive officer, president and partner in January, and remains in charge of his Houston-based private equity firm. Last year, he stepped down as CEO of Burger King after leading its revitalization. He previously helped Continental Airlines turn profitable after 16 consecutive years of losses, including two bankruptcies.SALES: Technomic, an industry consulting firm, ranks Quiznos third behind Subway and Arby's. Quiznos has average sales of about $425,000 a year per store where Subway has average sales of about $375,000 per store.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Quiznos CEO tackles chain's turnaround 