ANIL YADAV ACQUIRES CONTROLLING INTEREST OF FAST CASUAL CHAIN, NICK THE GREEK

- U.S.'s Largest Jack in the Box Franchisee Partners with Nick the Greek Founders to Accelerate Growth -

SAN JOSE, Calif., Dec. 12, 2022 /PRNewswire/ -- Nick the Greek, an emerging and fast growing, fast casual restaurant franchisor, has sold a controlling interest to strategic investor and mega franchisee Anil Yadav's YTG Enterprises LLC. Nick the Greek will continue to be run by its founding management team, who retain a substantial minority stake in the business. Nick the Greek currently has 48 units in operation and approximately 70 additional units in the development pipeline. Yadav is the owner-operator of nearly 600 restaurants nationwide, across both company-owned and franchised brands, including Taco Cabana, Jack in the Box, Denny's and TGI Fridays.

"We are thrilled to receive this strategic control investment by Anil and his team," said Nick Tsigaris, co-founder and president of Nick the Greek. "We believe that Anil's experience, scale, expertise and network will help accelerate the growth and development of the brand."

Nick the Greek was born after one of three close-knit cousins, "Baby" Nick Tsigaris, traveled home from a trip to Greece and realized that there was nowhere close to home within the U.S. that produced quality gyros. As second-generation restaurateurs, "Baby" Nick and his two cousins, "Big" Nick Tsigaris and "Little" Nick Tsigaris, decided to start their own modern restaurant concept – thus Nick the Greek was created.

"We were looking to invest in another growth-oriented franchisor, and Nick the Greek is the perfect fit," said Anil Yadav. "The food is delicious, differentiated and loved by our guests. The operations are simple and scalable, and the brand has a genuine authenticity driven by its Greek founders who will continue to run the company on a day-to-day basis. We have been overwhelmed by enquiries from potential franchisees since news of our partnership has spread!"

Nick the Greek is acclaimed for its souvlaki and signature gyros, and currently operates locations throughout California, Nevada, Kansas, Utah and Texas. 

"With compelling unit-level economics, a strong existing pipeline, and a long runway ahead of it, we are excited to partner with the team and leverage our infrastructure to support their growth," said Richard Pawlowski, CFO of Yadav Enterprises Inc., who sourced the deal. "System average unit volumes are approximately $1.5 million, and the most recent openings have far exceeded this number. With modest development costs in the $400,000 to $600,000 range, before allowances, and an operating model that comfortably fits into 1,500 to 1,800 square-feet, on a sales-to-investment ratio and on a fully-capitalized basis, the model is attractive."

For more information on Nick the Greek, visit NickTheGreek.com.

About Nick the Greek 
Nick the Greek is a Greek street-food concept that was founded by three cousins – "Big" Nick Tsigaris, President; "Little" Nick Tsigaris, CDO; and "Baby" Nick Tsigaris, CMO, who, following Greek tradition, are all named after their grandfather, and their longtime, close friend Komiel Mohsenzadegan, COO. Nick the Greek sells delicious, authentic quick serve Greek dishes including gyros, souvlaki (skewers), salads and desserts. For more information, visit NickTheGreek.com.

About YTG Enterprises, LLC 
Anil Yadav is the largest franchisee of Jack in the Box, the largest domestic franchisee of TGI Fridays, and holds a significant ownership stake in the global TGI Fridays franchisor. He is one of the largest franchisees of Denny's and the owner of the popular Texas-based Tex-Mex chain, Taco Cabana.

SOURCE Nick the Greek