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Alliance Development Group to Buy, Expand Damon's Grill Chain

CHARLOTTE, NC-The locally headquartered firm signs an agreement to acquire Damon International's Damon's Grill full-service restaurant chain and brand, which consists of 106 franchised and corporate-owned stores worldwide.

By Brian K. Miller | Updated on January 05, 2006

CHARLOTTE, NC-Locally based Alliance Development Group has signed an agreement with Damon’s International to purchase Damon’s Grill full-service restaurant chain, including the brand and franchise rights. Damon’s Grill is a full-service, casual dining restaurant concept that emphasizes beef, poultry, seafood and salads in 7,000-sf locations. Founded in 1979, the Columbus, Ohio-based company reported 2005 fiscal sales of $252 million.

The transaction is scheduled close next month; no terms have been disclosed. Earlier this week, the 97-unit Shari’s Restaurant chain, which produces annual revenues of $150 million, sold for about $80 million. All the Shari’s restaurants are corporate owned. Only 25 of the Damon’s Grill units are corporate owned, a company source tells GlobeSt.com.

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