McDonald’s Corp., longtime Tampa Bay franchisee agree to buyout

Oct. 1 will mark the end of an era for McDonald’s Corp. in the Tampa Bay region and Florida. That’s when Caspers Co., one of the fast-food restaurant chain’s most prominent and longest-serving franchisees, will officially sell all its eateries back to the Chicago-based franchisor.

News of the deal broke on Monday and Caspers Co. confirmed it in a statement emailed to the Business Observer.

“Caspers Co. has owned and operated McDonald’s restaurants throughout Florida since 1958,” the statement reads. “Fritz Casper opened the first McDonald’s in Florida on South Dale Mabry Highway after meeting Ray Kroc in a men’s clothing store outside of Chicago. Three generations of Caspers have Shined the Arches, serving millions of Happy Meals along the way.”

Caspers Co. has been owned and operated since 1996 by Blake Casper, Allison Casper Adams and Allison’s husband, Robby Adams. In 2018, they expanded to Jacksonville, buying 10 restaurants after McDonald’s relaxed its rules governing how many markets in which franchisees can operate.

The Caspers, the statement continues, “wish to thank the thousands of loyal team members who have made Caspers McDonald’s (restaurants) so successful over the generations. They have been the smiling faces making the difference in millions of Floridians’ lives. We wish the McDonald’s system much success in the future.”

Other terms of the deal, including acquisition cost, were not disclosed in the statement.

When reached via phone for comment, Casper Co. Vice President of Community Relations Bob Conigliaro declined to offer more details about the transaction.

“At this juncture, we’re not adding any additional texture to what we have in the press release,” he says. “Any further texture will come from the owners, and right now, the directive from them is just to give out the statement. Quite frankly, we’re still finding out exactly how this is going to be executed through McDonald’s Corp. We’re sorting that all out this week.”

Conigliaro says additional information about the deal could come later this week or early next week.

McDonald’s generated $23.22 billion in gross revenue in 2021, up from $19.21 billion in 2020 — an increase of nearly 21%.