pasta, sauce, and olive oil sourced from families in Italy) and Sullivan’s combined offering of quality and value-to be a perfect contender for a place in Dividend’s holdings. He says the concept in acquisition talks right now fits those criteria for new concepts, combining elements of both existing brands-Macaroni Grill’s emphasis on traditional, storied ingredients (i.e. So our focus is adding brands to our portfolio that emotionally connect with customers,” Machado says.
When it’s a logical connection, it’s a rat race it’s not focused as much on the experience as the transaction. “People go to restaurants either for a logical reason-quick ticket times, low prices, etc.-or for an emotional reason. Full-service concepts with positive brand equity, an established position in their respective markets, and strong brand culture are potential targets. Machado says seeking brands to add onto Dividend’s platform is the primary focus for 2020, starting, but not ending, with Q1’s planned deal. The past year was spent carving the steakhouse brand out of financial peril, and, now, Dividend is looking around again for new acquisitions. One year later, in the last quarter of 2018, the group purchased Sullivan’s Steakhouse from Del Frisco’s for $32 million. In 2017, Machado was brought on board to bring Macaroni Grill back from the edge of bankruptcy (the brand filed Chapter 11 in October of that year). “This is a meaningful brand, it will be the largest part of our portfolio if we get it done, and a lot of its characteristics are exactly in line with Sullivan’s and Macaroni Grill,” Dividend’s CEO and president Nishant Machado says.
If the deal comes to pass, the new acquisition would become the largest brand in the group’s portfolio. Dividend Restaurant Group-the owner of Macaroni Grill and Sullivan’s Steakhouse-could add another brand to its ranks before the end of 2020’s first quarter.
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