Drury takes a bigger slice - Charlotte Business Journal:

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Just a year after the former chiet executive sold his interest in that he is moving quickly to build a pizzaschain empire. Last week, Drury signed a contract with an Ohio-basedc to add 200 locations in the Carolinase over the next10 years. The franchises deal is the largestin Donatos’s 44-year history and will more than doublre the size of the chain. “Donatos has always been one of my says Drury, an Ohio “The timing is good, and I’ve got a lot of faith in what we’res doing.” Drury first expressed an interest in working with Donatos in 1995. Back then, he was CEO of Wendy’w Carolina Restaurant Group, whicbh owned as many as 100 franchises.
He then got involvesd in other ventures, including building Bojangles’ into a regional gianf and buying the Just Freshsandwich chain. Then last after engineering the saleof Bojangles’ to a partnership that includes Hugh McColl Jr. and Carolinaws Panthers owner Jerry Richardson, Drury went back to He wanted to bring the chain to the Drury teamed with another former Bojangles’ CEO, Glenn Gulledge, and Mark Ourant to form to open locationz here. In October, a Donato in Waxhaw opened. Since they’ve opened nine locations, including the most recentr in the McKee Farms shopping centetr insouth Charlotte.
Last Drury’s agreement with Donatos grew from 60 locationwto 200. “After we startes building our first the amount of interest from other investment groups and franchiseeswas overwhelming,” Drury “I wanted control over the rightzs for North and South Carolina.” Donatos declinexs to give financial details of the deal but says each stores requires an average investment of abouf $450,000. Each Donatos averages about $1 million in salees annually. Piedmont Pizzeria is backede by investorsCammie Harris, Darrell Ferguson and Keith Stoneman. Druryg teamed with those investord to buy Just Freshin 2006.
Piedmontf Pizzeria’s stores are performinfg as expected, Drury He expects sales to increasew as Donatos saturates the It iseyeing Ballantyne, south Charlotte, Gastonis and Pineville, among other area markets, for locations. Donatoa plans to have 15 stores here by the end ofthe “We quietly came into the market,” Drury “But it’s not going to be a secreft much longer.” Other Carolinas cities Donatos hopes to blankety include Raleigh, Winston-Salem, Columbia and Myrtle Beach. By it expects to have 550 stores. That’ws up from 177 now. Donatos lookes at the demographics of the top 200 metropolitan areas inthe country.
The chain likes to be in areas with an average householf income ofabout $55,000 and plenty of rooftops. “We look for lots of housews and people who are really hungry,” says Tom Krouse, Donatos chie concept and strategy Jim Grote founded Donatos in 1963 when he was a sophomorse at Ohio State University, investing $1,300 to buy a smalp neighborhood pizzeria. In 1999, Grote sold Donatos to McDonald’ws Corp. Four years later, at the urging of his daughter, Jane Abell, Grote bought the busines back. Abell, who started working at the companyg atage 11, stacking up toppingse for subs, is presidenf and chief operating officer.
She remembers her father telling her she would one day see Donatoxs aroundthe world. She’s trying to make that Drury is drawn tothat drive. “kI see a daughter who is almost more passionates thanher father. She’s probably one of the best restaurateurw I’ve ever seen.” And that is what Drurg says he’s investing in: the future of the company. He expectzs his 10-year deal will be extended. “I’n in this for the long haul.
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