But Can He Play QB? Johnny Rockets Acquired By Dan Snyder

Redskins Owner DANIEL SNYDER, via his private equity firm, RedZone Capital, has “agreed to acquire Johnny Rockets, the 1950s-inspired restaurant chain,” according to Andrew Ross Sorkin of the N.Y. TIMES. The acquisition marks Snyder’s “first major entrance into the food business.” Terms of the deal were not disclosed, but revenues for the restaurant were $250M, and “analysts estimate the chain’s value could be more than” $500M. Johnny Rockets was founded in ’86 and has grown “at least 20[%] a year since it was started by RONN TEITELBAUM, a clothing retailer, who expanded it to 203 locations, with some restaurants abroad,” before he died in ’00. Among other expansion plans, Snyder “envisions opening Johnny Rockets restaurants inside FedEx Field ... and inside Six Flags theme parks,” of which Snyder is chair. Regarding the Johnny Rockets acquisition, Six Flags CEO MARK SHAPIRO said Snyder “always keeps you guessing. If you had polled 100 CEO’s about what Dan would buy next, this would not be on the list” (N.Y. TIMES, 2/9).