Granite City Continues Growth with New TN Location
Granite City Food & Brewery, Ltd., said Monday that it is building a new restaurant in Franklin, Tennessee, which is located nine miles south of Nashville.
St. Louis Park-based Granite City has made several recent announcements regarding its growth. The company currently operates 26 restaurants in 11 states under its flagship brand. It also owns five Cadillac Ranch restaurants in four states; it bought the Cadillac Ranch locations-including one at the Mall of America-during the past few months.
Granite City plans to open its first Michigan location-in Troy-in April.
In October, the company also announced plans to remodel some of its restaurants to increase seating capacity in order to reduce wait times.
The new Tennessee location, which is set to open this summer, will be located in the new Spring Creek Center, across from a Drury hotel that is currently under construction. The restaurant will feature a recently developed “contemporary upscale design,” the company said.
“Granite City restaurants have shown great success in a variety of cities and states, and we feel confident that the folks in Franklin will enjoy our unique and affordable offering, highlighted by our award-winning beer,” CEO Rob Doran said in a statement.
The company's recent growth has been fueled by a $9 million capital infusion, which it received in May 2011 from CDP Partners, as well as $10 million in financing from Fifth Third Bank. Granite City is one of the 70 largest public companies in Minnesota based on revenue, which totaled $89.3 million in its 2010 fiscal year. Its 2011 financial results will be reported after the market closes on Tuesday.