Perrigo, 27, of Milwaukee, Wis. and Frayer, 28, of Grand Rapids, Mich., met in graduate school at Stanford University while earning MBA degrees. They are planning to grow the Arby’s brand in Arizona and other regions of the United States, having already purchased eight locations in the Tucson, Oro Valley and Sierra Vista, Ariz. areas.
Perrigo completed his undergraduate studies at the University of Wisconsin – Madison, earning a BBA in Finance, and Frayer attended Colgate University, earning a BA in Economics and Political Science. Both have previous experience as restaurant and specialty retail investors.
Perrigo and Frayer join Arby’s on the heels of the brand’s recent success with Q3 2015 system same-store sales (SSS) growth of 9.6 percent versus the same quarter last year, outperforming a representative sample of the larger Quick Service Restaurant (QSR) industry by an estimated 7.4 percentage points, and representing the company’s 20th consecutive quarter of SSS growth. Comparable two-year system sales are also up 20 percent for the quarter.