Wise: Scotty's Deal Promises Local Control, National Growth

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Wise says this type of deal was his "dream from the beginning," Wise says this type of deal was his "dream from the beginning,"
INDIANAPOLIS -

Scotty's Brewhouse founder Scott Wise says the chain's acquisition by Arizona-based Due North Holdings LLC is the result of years of searching for the right partner. Scott Wise tells Inside INdiana Business any deal he would accept had to keep him and the entire Scotty's team in place. Wise says his role will remain mostly the same, but with "a little bit of a twist of being more involved in the growth of the brand."

Scotty's currently has 19 locations in Indiana, Illinois and Florida, including a Plainfield restaurant currently under construction. Post-acquisition plans call for expanding to 100 locations in the U.S. and abroad in the next five years. He says the company is currently in negotiations for 10 potential locations in markets including Louisville, Lexington, Denver, Florida, Missouri, Phoenix/Scottsdale, Cincinnati and Columbus, Ohio.

Wise says a non-disclosure agreement prevents him from getting into specific numbers involved in the acquisition, but says everyone is very happy with the deal. He adds it has also allowed Scotty's to pay off all of its debts to its lenders.

Wise says, while this type of deal was his "dream from the beginning," it was important to find the right partner, specifically one that would allow continued local control. He tells Inside INdiana Business that he is involved with almost every aspect of the business, from menu development to where TV monitors go in the locations, and says he wants to continue in that role.

He says he has been in negotiations with several potential partners over the past few years and has turned down previous offers that did not meet his requirements. He believes, in Due North Holdings, he has found a partner that shares his company's values and ensures "my vision and my team would stay in place as we continued our growth."

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