Retail : former karcher v. P. Brews up ownership of coffeehouse chain
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The former executive vice president of Carl Karcher Enterprises in Anaheim, Ray Perry, has acquired a majority ownership stake in Kelly’s Enterprises, an Irvine-based chain of coffeehouses.
Kelly’s Enterprises operates 20 franchised Kelly’s Coffee & Fudge Factory stores. Perry will not say how much he invested in the chain, but he sold 58,000 shares of Karcher stock during
the past six weeks at about $9 a share, garnering more than $500,000 from the transactions. Founder Terry Kelly, who started the chain seven years ago, will remain with the company as a
limited partner. The chain, with county stores at UC Irvine and Balboa Island in Newport Beach, maintains an upscale image, with its own roasting plant and in-house bakeries. The chain has
the same focus on quality, Perry said, that he helped to build at Carl’s Jr., the hamburger chain owned by Karcher Enterprises. Perry was considered by some to be the heir apparent to the
Karcher presidency, until he was abruptly fired by the company late last year. Perry said he and his wife, Robbie, were attracted to Kelly’s because of its potential for expansion, its menu
focused toward all-day sales and its strong locations. “I’ve always been interested in owning a business,” Perry said. “This presented itself. It’s not without problems, but there are
opportunities here.” MORE TO READ