Subjects: TNM, CON, CXP
Batteries Plus Signs Area Development Agreement to Close Out Phoenix
Franchise Powerhouse MarLu Investment Group to Become Sole Franchisee in Market through Market Stewardship Program
PHOENIX, March 7, 2024 /PRNewswire/ -- Batteries Plus, the world's leading specialty battery franchise, announced today a major deal for expansion within the Phoenix market. This deal solidifies the brand's strong presence in the region and a roadmap for sustained success for years to come.
At the helm of this deal is MarLu Investment Group, A family-owned investment group and a major player in franchise concepts for over 30 years. They have experience owning brands including Arby's, Jack in the Box, Little Caesars, and more. On top of its restaurant expertise, the group also owned 44 Sears locations, showing experience and strength in appliance and utility product catalogs. The group plans to have 18 total Batteries Plus stores in the Valley of the Sun, beginning with the transfer of ownership of 11 existing locations and the purchase of 7 new territories currently being considered for future development.
"Batteries Plus is an ever-expanding and ever-necessary brand to have in any market. We're excited to power Phoenix with unparalleled and proven products and services," said Tony Lutfi, Founder and CEO of MarLu Investment Group. Joining Lufti will be his three sons and nephew?Metri, Stephen, Ramsey, and Nader? who will oversee operations of the stores.
"We've been in franchising for a long time and we've seen time and time again how important it is to provide strong support in a franchise system from the top down," said Stephen Lutfi, Member of MarLu Investment Group. "Batteries Plus is one of the top franchisors in the country, and through our investment, we can bring top-of-the-line expertise and power services to the residents of Phoenix and build the brand's reputation even higher."
This agreement is the second deal under Batteries Plus's new Market Stewardship Program. Following its debut in Atlanta last year, the program hybridizes what is typically found in Master Franchise (MFA) and an Area Development (ADA) Agreements, which allows MarLu to have franchise oversight on the entire market.
"Following our development strategy shift last year, we're excited to continue our nationwide growth in Phoenix," added Joe Malmuth, Chief Development Officer of Batteries Plus. "We've begun to implement our Market Stewardship Program and with a strong system and plan in place for this market, we're extremely looking forward to what Tony, his family, and MarLu will add for our brand out west."
"This is another history-making deal for us, adding a strong franchise partner to our roster in our new development program," said Jon Sica, Chief Business Officer of Batteries Plus. "Phoenix is the fifth largest city in the country and this deal gives us the potential to power devices, homes, businesses, schools, hospitals, and more in and around the market. This is an exciting time for us and we look forward to continuing our growth this way."
With over 800 store locations in operation and development nationwide, Batteries Plus has also carved out a unique niche in the industry with its 'plus' services ? including cell phone repair and key fob replacement. Positioned for the battery-powered future, Batteries Plus was ranked on Franchise Times Top 400 list, coming in at #130. Plus, for the 30th year in a row, the brand ranked on Entrepreneur Magazine's Franchise 500 list, climbing 40 spots over last year's rank and even becoming one of only 49 franchise brands to be inducted into Entrepreneur's Franchise 500 Hall of Fame. To learn more about Batteries Plus, visit batteriesplusfranchise.com.
ABOUT BATTERIES PLUS:
Batteries Plus, founded in 1988 and headquartered in Hartland, WI, is a leading omnichannel retailer of batteries, specialty light bulbs and phone repair services for the direct-to-consumer and commercial channels. The retailer also offers key programming, replacement and cutting services. Through a nationwide network of stores, the company offers a differentiated value proposition of unrivaled product selection, in-stock availability and customer service. Batteries Plus is owned by Freeman Spogli, a private equity firm based in Los Angeles and New York City. To learn more about one of Forbes®' Best Franchises to Buy in America, visit https://www.batteriesplusfranchise.com.?
MEDIA CONTACT: Danny Stewart, Fishman Public Relations, [email protected] or 847-945-1300 ext. 266
SOURCE Batteries Plus
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