By Thomas Heath
Monday, May 24, 2010;
2
Tasti D-Lite -- a 50-franchise dessert chain featured on television shows such as "30 Rock" and "Sex and the City" -- is coming to the Washington region.
The low-calorie frozen-treat chain signed a 25-store development deal with entrepreneur Ben Pascal that covers the mid-Atlantic region, including Maryland, Washington and Delaware.
Pascal, 26, is putting up his own money, but also has backing from his grandfather, former Anne Arundel county executive Robert A. Pascal.
Maryland political junkies will remember that the elder Pascal was the Republican nominee for governor in 1982, losing to incumbent Harry R. Hughes. Pascal served as the secretary of appointments to then-Gov. William Donald Schaefer from 1989 to 1995.
Robert Pascal founded -- and later sold -- United Propane, and is now in real estate development. He owns a hotel in St. Michaels, Md., and three shopping centers, and a fourth is on the way.
The business bug runs in the family. Ben already owns five residential rental properties in the Baltimore area.
"I will be financing the first store [in Severna Park in a few months] on my own," Ben said.
Georgetown, K Street and Dupont Circle are also on the list. Ben said he will own four or five Tasti D-Lite franchises and will help start and manage the rest in the region. He sees growth along the Maryland and Delaware coast at Ocean City, Rehoboth Beach, Bethany Beach and Dewey Beach.
Tasti D-Lite, which was started in 1987, makes a soft-serve dessert that has developed a cult following. It's headquartered in Franklin, Tenn., near Nashville. It is owned by Snow Phipps Group, a private equity firm based in New York. The dessert is made with skim milk and sugar and comes in 100 flavors.
Yum!
BLACK ENTERPRISE'S TOP COMPANY
Black Enterprise magazine named Herndon-based Thompson Hospitality its "Company of the Year" for the food service firm's financial performance in one of the nation's worst economic downturns.
The ninth-largest food service company in the United States and owner of the Austin Grill, Marvelous Market and American Tap Room chains, Thompson Hospitality is now ranked among the top 12 industrial/service companies on the 2010 Black Enterprise 100s list, an annual review of the market performance of America's prominent black-owned enterprises.
Black Enterprise plans to feature Thompson Hospitality in its June 2010 issue, the magazine's 38th special report on the nation's top black-owned enterprises.
HALIFAX DEALS OFF STAKES
The Halifax Group -- the District private equity firm led by David Dupree -- has sold its interests in oil-trucker Taylor Cos. and Taylor Propane Gas to Gibson Energy, a Calgary, Alberta-based oil company.
The Halifax Group, headquartered on Connecticut Avenue in the District, has offices in Dallas and Raleigh, N.C.
Dupree, an early member of the Carlyle Group, served on the board of Whole Foods and is an owner of the Washington Nationals. He also sits on Wake Forest University's Board of Trustees.
He said the market for lower-end leveraged buyouts is loosening up.
"The smaller end of the [leveraged buyout market] where Halifax lives is returning to normalcy more quickly, due to less dependence on higher leverage ratios," Dupree said. "Although there are fewer lenders, the lenders are available for quality deals."
Taylor owns a specialized fleet of more than 340 tractor-trailer units and hauls more than 49 million barrels of crude oil annually. Its operations also include 71 pipeline injection stations and a crude oil and natural gas liquids marketing business. Halifax acquired a majority interest in Taylor in September 2006.
No word on terms of the deal.
$1.6 MILLION RAISED FOR AVALON THEATRE
Sarah Pokempner tells the Buzz that the D.C. area business community has chipped in $1.6 million for the Avalon Theatre, one of Northwest D.C.'s favorite movie houses, located on Connecticut Avenue just yards from Chevy Chase Circle.
The donors include Chevy Chase Bank, developer Douglas Jemal and Forest City Enterprises's Deborah Ratner Salzberg. Vornado/Charles E. Smith, builder of Crystal City, was also represented by donations from Arlene and Bob Kogod and David Bruce Smith.
The nonprofit Avalon has a snazzy new cafe, a new electrical system, a smoother sidewalk in front and a lighter mortgage, thanks to the givers.
Arent Fox attorney Debra Yogodzinski, Roadside Development's Susan Linsky and documentary filmmaker Aviva Kempner (Sarah's cousin) have opened their Rolodexes to help raise cash. Donetta George, owner of the Brass Knob in Adams Morgan, put her resources to work sprucing up the lobby.
Next up: elevation. The Avalon has $170,000 of the $300,000 needed for an elevator to help patrons (including the Buzz) navigate those steep stairs on the way to the second floor Avalon 2.
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