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BRADENTON - First Watch Restaurants Inc. announced the acquisition of Arizona-based The Good Egg, a breakfast, brunch and lunch concept restaurant. The acquisition includes the brand, concept, all intellectual property and all 20 of its restaurants. Terms of the deal were not disclosed.
“This acquisition significantly accelerates our growth in a very desirable market and strengthens our scope and reach in the Southwest,” said Ken Pendery, president and CEO of First Watch, in a news release. “The Good Egg is a well-established concept that was developed in Arizona, grew successfully, and has built a loyal and passionate customer base that we plan to nurture and grow.”
Since 1987, The Good Egg grew through Charlie Syburg and Tom Barnett. Now there are 15 restaurants in metro Phoenix and five in southern Arizona. Matt Trusela and Frank Collins joined as operating partners and will continue in a leadership position in Arizona.
Kevin Hall, a 20-year operator at First Watch, will lead The Good Egg operations working with Trusela and Collins.
The Good Egg will continue business through the transaction and the three First Watch restaurants in Phoenix will also remain open.
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