TAGeX Brands in the News
Restaurant Liquidation Firm Becomes Industry Leader in Used Restaurant Equipment Sales
TAGeX Brands acquires Texas-based Advanced Auction Company to drive used restaurant equipment sales
Jun 14, 2017, 8:30am EDT
DALLAS, June 14, 2017 -- TAGeX Brands has announced its acquisition of the assets of
longtime, Dallas-based Advanced Auction Company. With the addition of this new
auction platform, TAGeX Brands solidifies its position as the industry leader of used
restaurant equipment sales using its online auction site, RestaurantEquipment.bid.
The addition of AAC into the TAGeX Brands portfolio gives the restaurant industry
increased access to discount restaurant equipment from locations across the country.
Access to a central, national and dynamic marketplace of used equipment gives
restaurant operators a viable option when it comes to reducing the cost of doing
business. Restaurant closures are on the rise and there is an abundance of used
equipment in the marketplace. In the past year alone, TAGeX Brands has played a role
in the closure and liquidation of over 400 restaurant locations. With the acquisition of
AAC, TAGeX Brands will be able to further assist struggling restaurants in liquidating
their assets and selling them to new or existing restaurants that need the equipment.
Neal Sherman, the president of TAGeX Brands said, "We are seeing more restaurant closures now than at any other time in our three decades of business. Companies of all types and size are closing locations, but their closures are creating opportunities for others in the form of inexpensive restaurant equipment that reduces capital expenditures. Our goal is to make restaurants more
efficient at managing assets for the betterment of the industry as a whole."
When discussing the decision to combine assets with TAGeX Brands, Jennifer Faucon, the founder of Advanced Auction Company explained, "For over a decade, AAC has played a crucial role in helping both prospering and struggling restaurants in Texas and nationally. Partnering with TAGeX Brands will provide further resources to improve upon that agenda."
Advanced Auction Company has served the Texas restaurant industry for over a decade and has worked with countless local and
regional companies, assisting with facility closures, equipment liquidation and used restaurant equipment sales.
TAGeX Brands specializes in facility closures, equipment liquidation and redeployment for the last thirty years. Using the online auction platform, www.RestaurantEquipment.bid, restaurants are able to sell their surplus or unused equipment back into the marketplace, reducing waste and producing a more efficient marketplace for restaurant and foodservice equipment and supplies.