The Sunshine State is home to eight of the Top 100 Independents; last year, the count was six. Three of the highest-grossing restaurants in Florida are on Disney properties.
The Buzz: After the renovation of Downtown Disney into Disney Springs, Fulton’s was closed in in February 2016 for a six-month transformation into Paddlefish restaurant.
The Bottom Line: The venerable Japanese steakhouse chain fetched a modest multiple in its sale to The One Group. But that’s where values have fallen these days.
Acquiring the 86-unit teppanyaki chain will make the owner of STK and Kona Grill a $1 billion company. And it's just the beginning of an ambitious long-term growth plan.