BJ's Restaurants explained

BJ's Restaurants, Inc.
Logo Upright:0.4
Former Name:BJ's Chicago Pizzeria
Type:Public
Traded As:NASDAQ:
S&P 600 component
Genre:Casual dining
Foundation:, in Santa Ana, California, US
Hq Location City:Huntington Beach, California
Hq Location Country:US
Locations:215 (2022)
Key People:Greg Levin (CEO and president)
Area Served:United States
Products:American food
Services:Catering
Num Employees:23,000 (2021)
Revenue: 1.195 billion (2021)[1]
Net Income:52.882 million (2021)[2]
Operating Income:79.452 million (2021)[3]
Assets: US$1.059 billion (FY 2021)[4]
Equity: US$353.788 million (FY 2021)[5]

BJ's Restaurants, Inc. is an American restaurant chain, headquartered in Huntington Beach, California.[6] [7] The chain operates under the names BJ's Restaurant & Brewery, BJ's Restaurant & Brewhouse, BJ's Grill, and BJ's Pizza & Grill.

History

BJ's was founded in 1978 by Jim Kozen and Leonard Allenstein.[8] It first opened in Santa Ana, California, as BJ's Chicago Pizzeria.[9] The original name was BJ Grunts, but due to a federal trademark conflict with RJ Grunts, a Chicago-based hamburger restaurant, the name was changed.[10] Shortly after the opening of the first restaurant, Mike Phillips and Bill Cunningham bought 50% of the company for $14,000. Kozen and Allenstein left the group after the opening of the seventh store.[11] [12] Phillips and Cunningham sold the company to their accountants Paul Motenko and Jerry Hennessy in 1991.[13]

By 1996, seven restaurants had opened between San Diego and Los Angeles. Originally known as Chicago Pizza, the company went public in 1996, raising $9.4 million.[14] The company then bought 26 Pietro's Pizza restaurants in March 1996 in a $2.8 million deal in cash and assumed debt, but then sold off seven of the locations with plans to convert the remaining Pietro's to what was then BJ's Pizza.[14] During the same year, the company opened a microbrewery at its Brea restaurant.[15]

Between 2010 and 2011, the National Retail Federation named it one of the 10 fastest-growing restaurants in the US based on year-over-year sales.[16]

In 2013, BJ's produced a combined total of 60,000 barrels annually at their 11 brewery restaurants to serve their chain of 136 restaurants in 15 states.[17] In 2010, the company's BJ's Hefelightzen was awarded a gold medal at the Great American Beer Festival.[18] In 2021, Greg Levin was appointed to CEO.[19], BJ's operated 215 restaurants in 29 states.[20]

Offerings

BJ's menu features pizza, beers, appetizers, entrees, pastas, sandwiches, salads, and desserts (including the signature Pizookie).[21] Some locations feature microbreweries that supply beer to other locations in the chain.[7]

Awards and recognition

At the 2006 Great American Beer Festival, BJ's Big Fish IPA achieved a gold medal within the American-style Strong Pale Ale classification. Its design draws inspiration from the Piranha Pale Ale, which secured a silver medal in 2002. In a similar vein, BJ's Jeremiah Red earned a silver medal in the strong ales category during the same festival in 1996. The Belgian-style wheat beer from BJ's has been honored with a Gold Medal by the North American Beer Awards.

Notes and References

  1. Web site: BJRI Financials. January 30, 2021. Nasdaq.
  2. Web site: BJRI Financials. January 30, 2021. Nasdaq.
  3. Web site: BJRI Financials. January 30, 2021. Nasdaq.
  4. Web site: BJRI Financials. January 30, 2021. Nasdaq.
  5. Web site: BJRI Financials. January 30, 2021. Nasdaq.
  6. Web site: Company Overview of BJ's Restaurants, Inc. . Bloomberg . January 4, 2019.
  7. Book: Hampson, Tim . 2008 . The Beer Book . London . . 23 . 978-1405333016.
  8. News: Alvarado . Jocelyn . September 23, 2012 . Best of Orange County: BJ's Restaurant & Brewhouse . .
  9. News: Best of Orange County: BJ's Restaurant & Brewhouse . Orange County Register . September 23, 2012 . Jocelyn . Alvarado.
  10. Web site: Casual Dining And Drinks At BJ's Brewery . SanctuaryBrewCo . 2022-10-05 . en-US.
  11. News: Restaurants : BJ's Dishes Pizza That Pans Out . . September 29, 1994 . Max . Jacobson.
  12. News: BJ's takes a bigger slice of casual-dining market . Los Angeles Times . May 5, 2010 . Andrea . Chang.
  13. News: BJ's Restaurants co-founders leave pizza chain . Orange County Register . December 22, 2008 . Nancy . Luna.
  14. News: Rose . Michael . BJ's Pizza to revamp Pietro's with breweries, remodeling . March 15, 2013 . . November 17, 1996.
  15. News: BJ's Restaurant and Brewhouse . Orange County Register . January 21, 2013 . Earl . Bloom.
  16. News: Luna . Nancy . BJ's pizza among 10 fastest-growing chains . Orange County Register . August 2, 2012 .
  17. News: Brewpub Files: BJ's Restaurants crafts brand quality across its restaurants . Craft Brewing Business . August 16, 2013 . Jason . Morgan.
  18. BJ's Restaurants Wins Gold Medal at the Great American Beer Festival . NBC News. September 28, 2010 . .
  19. Web site: 2021-07-06 . BJ's names Greg Levin to succeed Gregory Trojan as CEO . 2023-07-10 . Nation's Restaurant News . en.
  20. BJ’s Restaurants, Inc. to Participate at the 2022 Stephens Annual Investment Conference. November 2, 2022 . investors.bjsrestaurants.com . BJ's Restaurants, Inc. . June 18, 2024.
  21. Web site: BJ's Restaurants. Forbes. 2020-04-08.