ICONIC
RESTAURANT
GROUP

Iconic Restaurant Group (IRG), headquartered in Nashville, Tennessee, was established in 2017 with a mission to acquire and preserve “iconic” restaurants in communities across the United States. The journey began with the acquisition of the renowned Pancake Pantry, a beloved Nashville institution.

At IRG, we define an “iconic restaurant” as an independent establishment with significant name recognition that is deeply rooted in its community and has a proven track record of thriving through various economic climates.

The company is owned by Dee and Sara Northcutt. Daily operations are managed by a team of seasoned hospitality experts dedicated to maintaining the legacy and success of each restaurant. IRG’s current portfolio includes:

With an ambitious goal to own and operate 300 iconic restaurants by 2039, IRG seeks to meet the growing demand from restaurant owners looking for succession solutions. Many iconic establishments face closure or sale to profit-focused entities, often at the cost of their legacy. IRG steps in to fill this gap, ensuring these restaurants remain unique and true to their identity and heritage.

Dee and Sara Northcutt founded IRG with a singular and profound mission: to donate $90 million annually to charitable causes within 14 years.

Having achieved financial independence through the sale of dental practices, other businesses, and strategic investments, the Northcutts chose to devote their efforts to preserving iconic restaurants while giving back. IRG is structured to allocate 90% of all profits to charity, targeting restaurants with annual revenues exceeding $3.5 million and profits exceeding $650,000. To minimize tax burdens, the company prioritizes purchasing the real estate associated with its acquisitions.

By reinvesting all profits back into the company, IRG aims to achieve its 300-restaurant milestone by 2039. Ultimately, 95% of the company will be owned by a trust, ensuring the long-term preservation of these restaurants and their legacies.

IRG’s charitable contributions will focus on organizations aligned with the Northcutts’ Christian values, with an emphasis on fostering programs for children in low-income households, homelessness, single-parent families, foster care, and childhood illnesses. This philanthropic mission not only distinguishes IRG but also provides reassurance to sellers that their legacy will be preserved and their business will contribute to a greater good.

IRG’s acquisition strategy centers on identifying iconic restaurants that are well-established in their communities, financially successful, and operationally sound. Specifically, IRG seeks:

• Profitability: Restaurants generating at least $650,000 in annual profits.
• Strong Management: Establishments with experienced teams capable of maintaining operations without disruption. IRG prefers to not have to find and train a general manager to replace the seller who will be retiring or leaving the business at some point after sale.
• Preservation of Culture: IRG commits to upholding each restaurant’s unique identity. These restaurants are iconic because they have created a culture that is unique and it’s critical for their long-term success that this does not change. Changes, if necessary, are implemented only after a six-month observational period and designed to be seamless to customers and staff.

Unlike other models, IRG does not impose corporate standardization on its acquisitions, recognizing that the distinct character of each restaurant is key to its success.

IRG has specific criteria for potential sellers to ensure a seamless acquisition process and mutual success:

At IRG, we are driven by a vision that goes beyond profits, prioritizing the preservation of iconic restaurants and their legacies while transforming them into vehicles for meaningful charitable impact.