| Business

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Kings Family Restaurants chain gets new owner

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

'American Coyotes' Series

Traveling by Jeep, boat and foot, Tribune-Review investigative reporter Carl Prine and photojournalist Justin Merriman covered nearly 2,000 miles over two months along the border with Mexico to report on coyotes — the human traffickers who bring illegal immigrants into the United States. Most are Americans working for money and/or drugs. This series reports how their operations have a major impact on life for residents and the environment along the border — and beyond.

Thursday, Sept. 9, 2010

After 44 years, Hartley King is selling his Kings Family Restaurants chain.

King reached a tentative agreement with Unique Ventures Group LLC, which owns franchises for 28 Perkins restaurants in northeast Ohio and northwest Pennsylvania, said Chris Whalen, vice president of finance for White Oak-based Kings.

Unique Ventures had been talking to King about buying up to six of the 34 Kings restaurants, all in Western Pennsylvania except for one eastern Ohio location. "Then they pushed an offer to buy the whole company," Whalen said Wednesday, adding final terms still are being worked out. He declined to give details.

The deal will keep the company's White Oak headquarters, with about 20 employees who work for Kings. The restaurants known for their apple pie and cinammon ice cream and Frownie brownie desserts -- along with other casual fare -- still will be called Kings.

King, who will be 77 years old next week, originally intended to use capital from selling some of the restaurants to invest in remodeling other locations in the chain, and to open some new Kings, Whalen said.

Representatives of Unique Ventures, based in Pittsburgh and with offices in Meadville, weren't available for comment.

King also couldn't be reached for comment. "He wasn't looking to sell the company, by any means," Whalen said. "This was a very tough decision on him." The deal could be completed by year's end.

Whalen and King will remain franchise partners in five local Sonic restaurants.

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Business