Miami-based Vector Holdings Corporation (VHC), a supplier to the hospitality industry, has announced that it will have fully acquired The Potato Sack quick service restaurant, situated in the Aventura Mall, by 1 June 2002.
This acquisition fulfills a goal of VHC to acquire and expand a chain of quick service restaurants geographically, and include a variety of specialty items and menu options to meet consumer demand. VHC will seek to acquire and set up numerous quick service restaurants in shopping malls and hotels, which will accommodate the high percentage of pedestrian traffic typical of the respective areas.
Allen Weintraub, president & CEO, states: “With the approval of the Aventura Mall for our new ten-year lease to begin 1 June, this will be the same day we close on The Potato Sack. The addition of this profitable entity to the Vector family will increase our sales approximately US$1m a year.
“It will also give us a platform to use this concession in our future hotel acquisitions.”