Restaurant holding company ARC Group, franchisor of Dick’s Wings & Grill, promoted Seenu Kasturi to CEO. He will also retain his current responsibilities of chairman and chief financial officer for the company with an expanded focus on ARC’s acquisition strategy.
Richard Akam will maintain his current role of chief operating officer, focusing on driving organic growth and integration of the operating subsidiaries.
“ARC Group is in a period of unprecedented growth, both organic and through acquisitions. In this new capacity as CEO, I look forward to accelerating our growth strategy through carefully selected and strategic acquisitions, where we can acquire undervalued assets at attractive multiples and benefit from the tremendous operating synergies,” Kasturi said. “We now have a strong, proven track record, and I look forward to replicating this success given the state of the market and robust opportunities we have identified.”
Kasturi has served as ARC Group’s chairman and chief financial officer since January 2017 and served as the company’s president from January 2017 until his appointment as its CEO. He has served as the president and CEO of Blue Victory Holdings Inc., an asset development firm focused primarily on the ownership and management of branded restaurants, since October 2009.
ARC operates four company-owned Dick’s Wings & Grill restaurants, three company-owned concession stands, and has 19 franchise locations. ARC also owns the Fat Patty’s franchise, with four locations in West Virginia and Kentucky.