Matchbox Food Group Adds Investors to Fuel Growth
Following the expansion of its matchbox and Ted’s Bulletin brands in 2013, Washington, D.C.-based matchbox food group announced new leadership and growth plans for 2014.
Three new members have joined the restaurant group’s advisory board, each a minority investor in the growing company.
“We have attracted the attention of two restaurant industry leaders, Bill Allen and Chris Sullivan, and business leader Win Sheridan, who have each made a minority investment in our company and have agreed to serve on our advisory board,” says Ty Neal, matchbox food group’s principal partner. “We are poised for exciting things this year and look forward to joining new communities as we grow our family of restaurants.”
Allen is former chairman and CEO of O.S.I. Restaurants, a multi-billion dollar industry powerhouse known for such brands as Outback Steakhouse, Carrabba's, Bonefish Grill, Fleming's Steakhouse, and Roy's Hawaiian Grill. He began his career with Marriott, and served as CEO for both public and private companies, eventually co-founding Fleming's with Paul Fleming.
Sullivan, founder of Outback Steakhouse, among other well-known brands, built O.S.I. Restaurants into one of the world's leading restaurant companies. He opened his first Outback in Tampa, Florida, in 1988, and he now operates over 1,600 worldwide restaurants with his partners.
Sheridan spent 18 years developing workforce solutions firm Apex Systems into a multi-million dollar industry leader, with offices in 42 cities. He is a longtime supporter of matchbox, having joined the capital fundraising campaign that helped open the second matchbox near Washington, D.C.’s Capitol Hill. He shares Allen and Sullivan’s goal to help build another successful, unique restaurant company.
The new advisory board members have agreed to assist in developing best practices, operational systems, and processes to aid intelligent growth that is sustainable, maintaining the company’s people, excellent food, and finances.
In November, matchbox food group opened its 10th restaurant, Ted’s Bulletin in Reston, Virginia. The group is moving forward with plans to expand in metropolitan Washington with a fourth Ted’s Bulletin, slated to open in Merrifield, Virginia, in the fall. The advisory board expects to announce further growth of both brands soon.
Under the leadership of Neal, his brother Mark Neal, and Andrew Kim, matchbox food group operates three concepts.
Vintage pizza bistro matchbox, first opened in 2003 in Washington, D.C.’s Chinatown, now has locations in Palm Springs, California; Rockville, Maryland; two additional sites in D.C.; and one in the Mosaic District in Merrifield, Virginia.
Ted’s Bulletin, a family restaurant inspired by the Neal brothers’ father, was the group’s second concept, opening in 2010 on Capitol Hill. There are two additional locations—another in D.C., and the one that recently opened in Virginia’s Reston Town Center. Ted’s re-imagines a 1920s diner, serving nostalgic American fare.
DC-3 captures the spirit of the American hot dog, offering variations on classics found all over the country. Opened in 2012, DC-3 is located on Capitol Hill in Washington, D.C.