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Franchise company acquires ‘ugly houses’ network

Portfolio spans from restaurants to real estate

HomeVestors of America Inc., the real estate investment company behind the "We Buy Ugly Houses" billboards, today announced that Franchise Brands LLC has acquired a majority interest in the company. Founded in 1989, HomeVestors sold its first franchise in 1996 and has a network of about 230 franchise offices in 35 states. The company, which seeks to buy houses and resell them to investors and other buyers for a profit, has bought about 35,000 homes since its launch. Franchise Brands was created in 2005 with support from the founders of Subway restaurants. That company owns Bajio Mexican Grill, a Mexican gourmet restaurant chain based in Utah; and Mama DeLuca's Pizza, a quick-serve pizza restaurant chain based in Indiana. "Franchise Brands was founded on a basic principle: to invest in small and mid-market companies that demonstrate the potential for franchising," according to the company's Web site. While Doctor's Associates Inc., the franchise company fo...

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