Some big news on the Northern Virginia restaurant scene — one that will have ramifications for many popular dining establishments in Loudoun County and surrounding communities.
The Burn has learned that Thompson Hospitality — the company perhaps best known for its Matchbox restaurant brand — has formed a partnership with the Velocity Restaurant & Hospitality Group. The deal goes into effect on December 26.
So what does this mean? Basically, the parent company of Matchbox and its 15 locations in the DMV and Florida (including one at One Loudoun) is now in business with the parent company of Velocity Wings (Ashburn, Sterling, Purcellville, South Riding, others), Social House (Ashburn, South Riding), and Locals Tacos & Tequila (Sterling, others).
Velocity Wings, Social House and Locals Tacos are all owned by Jim Speros, a former Redskins assistant coach and well-known Northern Virginia businessman. Speros will continue in the role of president and CEO, overseeing the growth of the Velocity brands.
“We’ve got 12 restaurants — we’re in the middle size-wise — not quite big enough to get all the efficiencies we would like,” Speros said. By partnering with the larger Thompson Hospitality, Speros says they can take advantage of things like food buying programs and more sophisticated accounting and human resources operations.
“It’s a win-win for both companies,” he said. “It allows me to grow and expand since they have resources I don’t currently have.”
Speros says — with the backing of Thompson — he will be focused on expansion and growth of his brands in 2023.
Founded by Warren Thompson in 1992, Thompson Hospitality is the largest minority-owned food service company in the United States.
Besides Matchbox, Thompson Hospitality is also the operator of fast-growing local brands like Big Buns Damn Good Burgers (with a One Loudoun location opening soon), Milk & Honey (and its Sterling location that opened last month) as well as prominent regional brands Hen Quarter and Wiseguy Pizza.
Counting the Velocity brands, Thompson Hospitality now has some 16 restaurant brands in its portfolio, according to its website.
(Image at top: Matchbox)