Hartland-based specialty battery retailer
Batteries Plus announced today that it has signed five new franchise owners, who plan to develop 16 new store locations in Georgia, Massachusetts, Michigan, Ohio and Texas.
The company also said that it recently opened five new store locations in North Carolina, Ohio, Virginia and two in Florida.
Batteries Plus had 722 stores at the end of 2023, including 116 company-owned stores and 606 franchised stores. The company had net income of $20.3 million in 2023, according to its franchise disclosure agreement filed with the state.
Batteries Plus this year ranked #128 on the Franchise Times 400 list of the largest U.S.-based franchise systems, and #311 on Entrepreneur’s Franchise 500 list.
Batteries Plus recently appointedÂ
Victor Daher as its global vice president of franchise development andÂ
Brandon Mangual as vice president of franchise development. "These leadership changes align with the brand's commitment to fostering a more diverse and inclusive franchise system, ensuring that Batteries Plus continues to meet the needs of both its franchisees and the communities they serve," the company said in a news release.
Founded in 1988, Batteries Plus is owned byÂ
Freeman Spogli, a private equity firm based in Los Angeles and New York City.
