Franchise Capital Advisors Completes the Sale of Macayo's Mexican Restaurants to Kind Hospitality
PHOENIX (February 28, 2019) – Franchise Capital Advisors is pleased to announce the successful completion of the sale of Phoenix, Arizona based Macayo’s Mexican Restaurants to locally based Kind Hospitality.
The Macayo’s name, which was introduced to Phoenicians in 1946 by Woody and Victoria Johnson with the modest, six-table Woody’s El Nido, has been an icon in the Valley for the better part of a century, and is widely credited with the invention of the chimichanga. With two generations and 73 years of culinary excellence to their name, the Macayo’s legacy is currently led by Woody and Victoria’s children, Sharisse, Gary and Stephen Johnson, who will continue to operate Woody’s Macayo in Central Phoenix and Macayo’s Depot Cantina in Tempe.
Founded in 1996, Kind Hospitality operates well-known brands including Panera Bread, Paradise Bakery, NYPD Pizza, O.H.S.O. Brewery, Barrio Avion and Copper Plate, an American Grill primarily in the Phoenix Sky Harbor and Phoenix-Mesa Gateway Airports. They enter the agreement with the utmost respect for the Macayo name and dedication to growing the brand.
“The Macayo legacy in the Valley and beyond is something we take very seriously. The food, the atmosphere and the organization’s involvement in the community has been unparalleled and we absolutely intend to keep the Johnson family traditions alive,” said Kind Hospitality Owner Nava Singam in a joint statement with his wife, Leticia. “Leticia and I recognize that the people are the undeniable heart of the Macayo’s brand, some of whom have been with the company for more than three decades. We appreciate and value that kind of dedication, and as such, we intend to keep all Macayo’s Mexican Table employees in their current roles.”
“The Johnson family have built one of the most successful mexican food restaurant chains in AZ over its 70 year history. We are pleased to see Macayo’s transition to a strong locally based restaurant group that understand its history and is focused on preserving the legacy of the brand and it’s founders” stated Ryan Kress, principal of Franchise Capital Advisors.
“We are so grateful to all of the guests and teammates who have been a part of Macayo through these years; they are truly a part of our family. With what was started by our parents as just a dream over seven decades ago, it’s been an honor for us to be able to carry on their legacy across the Valley,” said Sharisse Johnson. “We all started working at a very young age, and as my brothers enter retirement, we are happy to be passing the torch to another local family business who we are confident will continue to uphold our Macayo traditions and honor our heritage.”
Kind’s plans for the six Valley locations of Macayo’s Mexican Table include renovations to existing restaurants with updated décor and color schemes while maintaining the flair and vibrancy that the brand is known for. Proposed growth strategies include additional locations at a smaller footprint of between 4,000 - 5,000 square feet; a departure from the organization’s current 7,000 - 8,000-sqarefoot locations.
Franchise Capital Advisors, a Scottsdale based investment bank and financial advisory firm specializing in restaurants, convenience store/gas, auto aftercare and hospitality have completed over $5 billion in transactions in the chain retail segment with over 50 years combined experience.
Stephen Y. Schwanz
President & Managing Director
Ryan E. Kress