Quaker Steak & Lube®

QUAKER STEAK & LUBE® ANNOUNCES RECORD EXPANSION INCLUDING 16 NEW RESTAURANTS

2010-10-21 19:43:21

SHARON, Pa.– Quaker Steak & Lube® (QSL), the motorsports-themed casual-dining family restaurant that has been bucking economic trends for the past two years, recently announced its largest growth development plan since the brand started franchising in 1997. Action Companies, a Quaker Steak & Lube® franchisee since 2008, and QSL Franchising Corporation entered into a 16-restaurant area development agreement.

Jacob Wright, President and CEO of Action Companies said, “We have had great success at our Syracuse location and believe this brand offers the most unique and memorable experience in casual dining. Despite the ‘great recession’ both The Lube® and Action Companies have significantly grown sales and profits. The results-focus of both companies makes for a great match moving forward.” He added “John Longstreet brings significant strength to the brand as its CEO, and we are confident that The Lube® will quickly expand across the country. We are very excited to be a big part of that expansion.”

“We couldn’t be more pleased with this partnership,” said Quaker Steak & Lube® CEO John Longstreet. “Jacob is a top-notch developer and operator who sets aggressive goals and consistently over-achieves them.”

Action Companies currently owns and operates the Quaker Steak & Lube® in Syracuse, N.Y. The owners of Action Companies have constructed more than 500 hotels, owned more than 40, and currently own and manage 15 hotels. The first development in the new agreement will be Quaker Steak & Lube® Rochester, N.Y. Other planned sites in New York include Albany, Saratoga Springs, Utica, Newburgh and Watertown. Sites under consideration in New England include Boston, Mass.; Springfield, Mass.; Hartford, Conn.; Providence, R.I.; Manchester, N.H.; Portland, Maine; and Burlington, Vt. Action Companies is currently adding staff and is tripling the size of its corporate headquarters to three floors of the State Tower Building in downtown Syracuse to support their significant expansion plans.

In addition to the major expansion with Action Companies, Quaker Steak & Lube® also plans on opening at least 10 more locations across the United States throughout 2011.

About Quaker Steak & Lube®
The original Quaker Steak & Lube® was founded in 1974 and built in an abandoned gas station in Sharon, Pennsylvania as a cook-your-own steak restaurant. As the company began to become profitable, a full-size kitchen was added. Today, The Lube® has won more than 100 national and international awards for its wings and 22 different wing sauces. The Lube® features unique décor items including Race Cars suspended from the ceilings, Motorcycles, Corvettes and Gas Station Memorabilia decorating the walls. The restaurant began franchising in 1997 and today has locations throughout the United States and Canada. For more information on Quaker Steak & Lube® or Action Companies, visit www.quakersteakandlube.com or www.actioncompanies.com.

Media Contact: pr@thelube.com




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