Sonic Corporation (NASDAQ:SONC) Announces New Franchisee Agreements Across US


Sonic Corporation (NASDAQ:SONC) has announced signing five new agreements for development of its franchise in New York City, Washington, D.C, Alabama, the Ohio River Valley and Virginia. With its activities mainly spread out in the South and Central Plains, the company intends to expand its operations in the entire country so as to meet ever-growing demand.

The new groups have over 50 years of experience in operating fast-casual and QSR restaurant brands together with other financial and retail backgrounds which offer a strong foundation for the company’s future success.

Men of Grace, LLC will be tasked with developing new drive-ins in the entire Washington, D.C. market which will also include locations in Northern Virginia. Northfork Holdings has acquired 21 operational drives-in situated in Missouri, Tennessee and Ohio River Valley. This is in addition to 21 more drive-ins in the pipeline and expected to be in place in the next decade.  SD-Missouri has acquired drive-ins situated in Georgia, Tennessee, Virginia and Alabama. Eng LLC signed a contract to put up drive-ins in five boroughs located in New York.

SONIC partners with franchisees to locate buildings that march their needs and expectations as well as the needs of their guests.  SONIC offers a lot of flexibility to franchisees with several drive-in formats.

SONIC has partnered with hip-hop legend and actor Ice-T to observe National Iced Tea Month in June that will also mark the cerebration of the company’s Frozen Sweet Teas flavors. SONIC organized a live event on Facebook on June 13, 2017 so as to highlight on the recent Ice-T’s cameo in the company’s Two Guys 30-second spot. The event offered fans an opportunity to order a limited edition Ice-T t-shirt. The live event featured a life-sized ice sculpture composed of Ice Illusions built from Ice-T holding a microphone and outing on an activated Ice-T shirt.

SONIC stock closed the Tuesday with a 0.51% or +0.15 raise to close the session at 29.45

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