JR Canada Restaurant Group Ltd. is announcing the start of construction of its fourth Johnny Rockets location on Oak Street by the Vancouver General Hospital. With expectations of opening in summer 2018, Johnny Rockets Canada has enjoyed quick success on the west-coast restaurant scene in the markets of Victoria and Vancouver. Delivering on great, custom made burgers and arguably the best milkshakes in the world, Johnny Rockets has attracted customers of all ages to check out Canada’s newest player in the fast-casual burger scene.
The construction of location number four shows that the company is on track with its ambitious, large-scale national plan. The Canadian master development/franchise rights for Johnny Rockets in Canadawere purchased in 2015 by Lewis Gelmon, a native Canadian living in Victoria. Gelmon shared, “Having owned 25% of Domino’s Pizza of Canada Ltd. in the 90’s, I saw firsthand how much Canadians love Americana but also how important it is for it to be developed with Canadian management style to be successful.”
In 2016 JR Canada Restaurant Group set out to raise CAN $5 million to build the first five locations with a private equity offering that closed in May of 2016. A campaign which came in oversubscribed at $6.7 million. With three stores under their belt in British Columbia as of the end of 2017, there are two more that have expected opening dates in 2018’s calendar year.
David Kremer, Principal and President of Rubik’s Brand, Ltd., which owns and manages the world-wide rights and intellectual property of the widely known Rubik’s Cube, is both a director and the single largest investor in JR Canada Restaurant Group Ltd., said “I fell in love with Johnny Rockets the first time I tried a milkshake and I’m delighted to be closely involved with the Canadian roll out of this iconic, worldwide brand and I think the location on Oak Street is top notch!” With a solid handful of heavy-hitters at the table, JR Canada Restaurant Group is hitting its expansion plans on target.
The company has also just launched its 2nd private placement offering for CAN $4.2 million. These funds will be used to build out four more locations in 2019, which will be followed by subsequent private offerings and hopefully an IPO when the chain reaches 20 stores.
“My goal with this second offering is to attract new investor money from those who recognized the value of a strong iconic brand being developed professionally across Canada and who support future offerings as we march toward what we hope will be a strong and popular IPO,” said Lewis Gelmon, President and CEO of JR Canada Restaurant Group.
About Johnny Rockets
Johnny Rockets is an international restaurant franchise that offers high quality menu items, including fresh, never frozen 100% beef cooked-to-order hamburgers, chicken sandwiches, crispy fries and rich, delicious hand-spun shakes. Founded in 1986, Johnny Rockets operates more than 400 locations in 31 countries around the world. For more information, visit www.johnnyrockets.ca.