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By September 1999, the two companies had agreed to merge, a proposal that promised to unite the 22-unit Xando concept with the 18-unit Cosi concept.
In 1999, the company posted a net loss of $34.5 million.
In September 2000, the company entered the Midwest market for the first time, establishing a restaurant in Chicago.
The company was able to complete its IPO, however, making its debut on the NASDAQ Exchange in November 2002.
Red Ink and a 2002 IPO
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| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Muscle Maker Grill | 1995 | $161.7M | 10 | - |
| Boudin Bakery | 1849 | $6.5M | 49 | - |
| Pick Up Stix | - | - | - | - |
| Back Yard Burgers | 1987 | $25.0M | 125 | - |
| Delaware North | 1915 | $3.2B | 55,000 | 598 |
| Naf Naf Grill | 2009 | $390,000 | 30 | 3 |
| PDQ | 2011 | $32.0M | 565 | 190 |
| Great Harvest Bread | 1976 | $5.4M | 10 | 22 |
| Mucho Burrito Fresh Mexican Grill | 2006 | $13.0M | 320 | - |
| J&B Restaurant Partners | 1997 | $600,000 | 10 | - |
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