Mayfair Partners L.P. of Falls Church, Va., and an investment partner have acquired 10 Baltimore-area Boston Markets, cafeterias offering home-style rotisserie chicken and turkey, and plan to open another 10 in the area over the next three years, officials said.
Mayfair Partners was joined in the venture by McLean, Va.-based HAIFinance Corp. in acquiring Superior Foods of Maryland Inc., the Annapolis company that operated the 10 restaurants, which are franchises of Colorado-based Boston Chicken Inc. The acquisition also includes two Rochester, N.Y., stores.
Terms of the deal were not disclosed, but Superior Foods was valued at about $7 million, a spokesman said.
Boston Chicken has extended a $17.2 million line of credit to the Mayfair-HAIFinance partnership, called BC Superior L.C.C., to develop additional stores.
The partnership has already begun construction on two Boston Markets -- one in Rochester, the other in Towson at York Plaza. In addition to 10 new cafeterias in Baltimore, the company expects to develop 40 stores in Richmond, Va., Rochester and West Virginia.
Mayfair, which operates 29 stores in the Washington area and one in Charlottesville, Va., plans to open 20 more this year.