TEAM SCHOSTAK FAMILY RESTAURANTS ACQUIRES OLGA’S KITCHEN, INC.
TEAM Schostak Family Restaurants (TSFR) recently announced its affiliate SOK Venture LLC has acquired all assets of Troy, Mich.-based Olga’s Kitchen, Inc. Terms of the purchase are not being disclosed.
Founded in 1970 in Birmingham, Mich., Olga’s Kitchen is an iconic and recognized leader in the casual dining sector, having built a reputation of providing a positively unique and consistent culinary experience for three-generations of guests. Olga’s Mediterranean-inspired menu is infused with bold flavors made from fresh, locally sourced, high-quality ingredients at an affordable price. In 2004, TSFR’s affiliate SOK Venture LLC entered into a joint-venture partnership with Olga’s Kitchen, investing in 11 neighborhood locations—which feature the brand’s updated layout and modern design—throughout Michigan.
“It has always been a part of our strategic vision at TEAM Schostak Family Restaurants to purchase, in its entirety, an iconic brand that would further solidify our reputation as a leader in the restaurant industry,” said TSFR Executive Chairman Mark Schostak. “As a fellow Michigan-based company, Olga’s Kitchen is a beloved brand that perfectly complements our expertise and diverse portfolio of restaurants. Under our local leadership, we have the right tools and resources required to successfully grow Olga’s Kitchen for the future, ensuring it remains an important staple in our Michigan community and a place for families to create memories for another 45 years and beyond.”
The acquisition marks the first corporate entity purchase—which includes trademarks, recipes, all locations, equipment and operational teams—for the family-owned TSFR, which also owns and operates 67 Applebee’s, four Del Taco locations and four MOD Pizza restaurants throughout Michigan, with construction of one more MOD Pizza location underway prior to year end.