SmashBurger launched in Denver Colorado in 2007 by Thomas Ryan. Consumer Capital Partners financially backed the company in its early days and now owns shares in the company. The company has announced plans for an Initial Public Offering (IPO) in May of 2013 but dismissed them due to low valuation. In October of 2015, SmashBurger sold a 40% stake to Jollibee Foods Corporation for USD 100 million. Jollibee is the largest fast food company in the Philippines. The brand was having trouble finding a CEO after Michael Nolan resigned in December of 2016 after 8 months in the position. Nolan’s successor, Scott Crane, also resigned after three years in the job. Thomas Ryan is back in top and is filling the CEO position.

26 Dec 2016