Restaurant Multi-Concept Operator Update, (3) company snapshots of changes over 12 months:  

TBAAR – Strategic Expansion Update (Fast-Casual Asian Bakery & Crepes)

Core Brand: Unit count steady at 32 locations over the past year.

Kyuraramen (Casual Ramen Eatery)

• +14% growth: 43 → 49 locations.
• Openings: Philadelphia, PA (May 2025); Strongsville, OH (June 2025); Nashville, TN (July 2025).
• Strategy: Targeted entry into new regional markets.

Izakaya Nana (Japanese-Style Gastropub)

• Second location opened in Chantilly, VA (January 2025).
• Positioned to benefit from rising demand for authentic Japanese dining.

Upstream Hospitality Group – Expansion Snapshot

The Tap Room (Bar & Grill)

• +50% growth: 6 → 9 locations in the past year.
• New units: Garden City (2024), Huntington (2024), Ronkonkoma – Station Yards (January 2025).

Bango Bowls (Salads, Sandwiches, Smoothies)

• +67% growth in 3 months: 6 → 10 locations.
• Openings: Centereach (June 2025); Plainview (July 2025); Garden City (July 2025); Bayport opening imminent.
• All locations in New York, reinforcing a strong regional footprint.

A. Ray Hospitality – M.L. Rose & Sister Concepts

M.L. Rose Craft Beer & Burgers

• +33% growth: 6 → 8 locations in the past year.
• Openings: Gallatin (Oct 2024), Inglewood (July 14, 2025).
• New location planned for Fall 2025 in Murfreesboro, TN.

Other Concepts

• Melrose Billiard Parlor: Iconic Nashville institution.
• Von Elrod’s Beer Hall & Kitchen: Popular beer hall and social destination.