Original Habit Grill founder sells remaining local restaurants
Source: The Habit Restaurants, Inc.
After more than 45 years, The Habit Burger Grill founder Brent Reichard and his brother Bruce are hanging up the spatula and retiring from the hamburger business. March 1, 2022 Yum! Brands will take over the operations of the remaining eight restaurants operated by the Reichard family, including the Original Habit and the remaining seven restaurants in Santa Barbara County. The vision and hard work of the Reichard brothers have made The Habit a Santa Barbara destination for locals and visitors alike. New operators will be proud to carry on this legacy.
Brent got his first job at the age of 16 at the original Habit Burger Grill location in downtown Goleta, then called The Hamburger Habit, in 1976. Four years later, Brent and his brother Bruce took over. bought the hamburger stand. In 1996, Brent opened the 2nd Habit store in Ventura. Over the next ten years, Brent as CEO and Dave Nordahl as chairman grew the chain in California to 24 units. In 2007, they sold a controlling stake to private equity group Karp Reilly. This transaction did not include the Santa Barbara territory and the Reichard family continued to own and operate the Santa Barbara County locations.
Brent and Dave remained in their roles with Largest Habit Restaurants until 2009 and both remained on the Board of Directors until 2014 when Habit Restaurants launched their IPO, remaining a publicly traded company. until Yum! Brands acquired the Company in early 2020.
âI will miss working with all of our amazing team members and am very proud of their hard work and commitment to taking care of our customers every day. I have had the pleasure of meeting and working with so many great people and I really appreciate what a great trip it has been, âsaid Brent Reichard. Making the decision was very difficult and moving, but Brent says it was never an option for his or Bruce’s children to take over the business. âMy retirement marks the end of an incredible era. It was a family decision and we know that’s what’s best for the business, âsays Brent. He is convinced that the core values ââwith which they have led the company for nearly five decades will continue and cannot help but close this chapter with enormous pride.
Guideboat Advisors served as exclusive financial advisor and RIMÃN PC served as legal advisor to the sellers.
About The Habit Restaurants, Inc.
The Habit Burger Grill is a fast, casual burger-centric restaurant concept that specializes in making fresh, cooked-to-order burgers and artisanal sandwiches including grilled tenderloin steak, grilled chicken and quality Ahi tuna. sushi cooked over an open flame. Plus, it offers fresh, hand-prepared salads and an attractive selection of sides and shakes. The Habit Burger Grill was named “America’s Best Burger Taste” in July 2014 in an in-depth survey by one of America’s leading consumer magazines. The first Habit Burger Grill opened in Santa Barbara, California in 1969 and was recently named to Thrillist’s list of “Underrated Burger Chains That Must Be In Every State!” The Habit Burger Grill has over 300 restaurants in 14 states including Arizona, California, Florida, Idaho, Maryland, Massachusetts, Nevada, New Jersey, North Carolina , Pennsylvania, South Carolina, Utah, Virginia and Washington, as well as 11 international restaurants. locations, seven in China and four in Cambodia. More information is available at www.habitburger.com.