J. Alexander’s Holdings director Frank Martire has in the past week spent almost $215,000 to build his stake in the restaurant company. Martire was named to the board of West End-based J. Alexander’s in September, just before the company returned to the New York Stock Exchange. He is the executive chairman of Fortune 500 company Fidelity National Information Services and was that company’s CEO from 2009 to early this year.
Martire's recent purchases have more than doubled his stake in J. Alexander’s (Ticker: JAX), which has climbed about 10 percent since being spun out of Fidelity National Financial nearly two months ago.
J. Alexander's executives on Friday announced they plan to open a restaurant in a Lexington, Kentucky, mixed-use development next year. The 8,100-square-foot location will employ roughly 100 full- and part-time people and join a number of other restaurants at The Summit at Fritz Farm as well as Whole Foods and Pottery Barn.
Nashville-based J. Alexander's has been majority-owned by Fidelity National Financial since 2012 and also runs higher-end eateries under the Redlands Grill and Stoney River brands. The chain is on track to be spun out to FNF investors in the coming weeks.
The team at J. Alexander's plans to build a nearly 8,000-square-foot Stoney River Legendary Steaks outpost in Germantown near Memphis. The location will be Stoney River's 11th and is expected to open around year's end. Stoney River, where the average customer spends more than $45, has been part of the J. Alexander's family since early 2013.
SEE ALSO: J. Alexander's rolling out third brand ahead of NYSE return from early this month
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