Perkins Restaurant & Bakery history

One franchisee in Minnesota, Wyman Nelson, introduced an expanded menu and an aggressive advertising campaign in 1967.

In 1969, he purchased the right to develop the dining concept throughout Minnesota.

He completed his consolidation effort in 1978 with the outright purchase of the Perkins trademark and flour distribution rights.

In 1979, Matt and Ivan retired, selling their remaining interest in the company, including trademark and distribution rights.

By 1981, Perkins had 258 restaurants in 29 states.

With the cooperation of Holiday Corp., Smith formed an investment group dubbed Tennessee Restaurant Company and purchased the chain for about $70 million in 1985.

In 1986, he transformed the company into a limited partnership, selling a minority stake to the public.

The chain also opened its first international restaurant in Ontario, Canada--which not coincidentally was Smith's native province--in 1988.

James Scarpa of Restaurant Business described the chain as "dated and disorganized" in a 1990 article, particularly noting its "downscale coffee shop look."

The company started testing stand-alone bakeries and cafes in 1995.

Perkins' 1996 annual report outlined a multifaceted program for future growth.

In 1997 TRC, which already owned 48 percent of the limited partnership through its Perkins Management Company subsidiary, offered to buy the remaining publicly held shares of the company for $14 each.

In May 2006, the parent company acquired Marie Callender's, a chain of casual dining restaurants also known for their freshly baked pies, and combined it with the Perkins chain, forming Perkins & Marie Callender's Inc.

In June 2011, many restaurants were closed with no notice given to customers or staff.

In May 2012, it was announced that all western New York Perkins restaurants, except for its Olean, New York location, would close.