Ninety Nine (restaurant chain)
 | |
| The Ninety Nine Restaurant & Pub | |
| Company type | Subsidiary |
| Founded | 1952 |
| Headquarters | , U.S. |
Number of locations | 97 (as of May 2023) |
Area served | Northeastern United States |
| Parent |
|
| Website | 99restaurants |
The Ninety Nine Restaurant & Pub, also known as The Nines, is a chain of casual dining restaurants in the Northeastern United States. It is headquartered in Woburn, Massachusetts, with 97 locations (as of May 2023[update]) in Massachusetts, Connecticut, Maine, New Hampshire, New York, Rhode Island, and Vermont.[1]
History
[edit]The Ninety Nine was founded in 1952 when Charles F. "Charlie" Doe (d. 2006) opened a restaurant at 99 State Street in Boston.[2] The chain uses a horseshoe in its logo after Doe's wife gave him one to hang in his restaurant.[2] Doe expanded the restaurant into the Boston suburbs and then to other states in New England, making him an early pioneer of the casual dining experience.[3][4]
The chain was owned by Doe's family until 2002 when it was sold to Nashville-based O'Charley's group for $116 million cash and 2.35 million O'Charley's stock shares.[5][6] At sale, the chain had 74 restaurants in New England.[6] The chain marked 99 locations on December 6, 2004.[5]
In 2012, O'Charleys and the Ninety Nine Restaurant brand were purchased by Fidelity National Financial for $221 million.[7] 99 Restaurants, LLC was restructured as an asset of American Blue Cross Holdings, a joint venture of Fidelity National and Newport Global Advisors, remaining such when J. Alexander's was spun off.[8] In 2017, J. Alexander's nearly purchased Fidelity's stake in American Blue Cross Holdings to acquire the Ninety Nine brand,[9] but the deal was rejected in 2018 by J. Alexander shareholders, as it would have given majority ownership to Fidelity, their previous owner.[10]
Following the failed deal, Ninety Nine was restructured under Cannae Holdings in 2018, a spinoff of Fidelity National Financial.[11]
References
[edit]- ^ "A Delicious Quest: Mansfield Man Wants To Eat At Every 99 Restaurant". WBZ NewsRadio 1030. May 9, 2023. Retrieved October 12, 2023.
- ^ a b Pfeiffer, Sacha (November 21, 2007). "Patrons' attachment to decor fuels eateries' charity auctions". The Boston Globe. p. 13.
- ^ "Charles Doe, 79: Founder of Ninety Nine restaurant chain". The Daily Item. April 13, 2006. pp. Z19.
- ^ Marquard, Bryan (April 12, 2006). "Charles F. Doe, at 79; philanthropist founded Ninety Nine restaurant chain". The Boston Globe. pp. B7. (subscription required)
- ^ a b "Ninety Nine celebrates 99 Restaurants". The Berkshire Eagle. January 20, 2005. p. 24. Retrieved September 27, 2024.
- ^ a b "Ninety Nine Restaurant is sold to Nashville chain". The Boston Globe. October 30, 2002. pp. C11.
- ^ "Fidelity National to buy O'Charley's restaurant chain". Springfield News-Sun. February 7, 2012. p. 5. Retrieved September 27, 2024.
- ^ "Fidelity National Financial, Inc. Announces Formation of New Upscale Dining Focused Company". February 25, 2013. Retrieved September 27, 2024.
- ^ "J. Alexander's Buys 99 Restaurants Chain". Foodservice Equipment & Supplies. August 8, 2017. Retrieved October 12, 2023.
- ^ Maze, Jonathan (February 1, 2018). "Shareholders vote against J. Alexander's merger". Restaurant Business. Retrieved September 27, 2024.
- ^ Maze, Jonathan (June 19, 2018). "O'Charley's owner is splitting up". Restaurant Business. Retrieved September 27, 2024.