- Verne Winchell
Verne H. Winchell (
October 15 ,1915 –November 26 ,2002 ) was the founder ofWinchell's Donuts .On
October 8 ,1948 he opened his firstdonut shop inTemple City, California and earned the nickname "The Donut King" while making a fortune with a chain of Winchell's-branded donut shops in the western United States during the 1940s and 1950s.He sold his interest in the company for $600 million in 1984 and became chairman ofDenny's Restaurants for several years.Winchell was also a successfulhorse breeder and owner.One of his colts, named "Donut King", was one of the favorites for the 1962Kentucky Derby .Verne Winchell died on
November 26 2002 of a heart attack at the age of 87 at Summerlin Hospital Medical Center in Las Vegas. Family members said he collapsed after exercising on the treadmill at his home.Winchell had retired as chief executive and president of Denny's Inc., which bought Winchell's Donut Houses in 1968.
Born in Bloomington, Ill., Winchell and his family moved to
California when he was 9 years old. He graduated fromAlhambra High School and attendedPasadena City College .Before starting his lucrative doughnut franchise, he tried selling jukeboxes and used cars in the 1950s. A friend suggested opening a doughnut store because there was a high profit margin. Winchell took a $27,000 stake and turned a piece of commercial property he owned into his first store.
The shops were highly successful and it wasn't too long before Winchell expanded his operation throughout California. In 1976, according to
BusinessWeek magazine, sales at Winchell's nationwide were $99 million, although the chain was by then a distant second toDunkin' Donuts .Winchell eventually sold his business to Denny's in exchange for stock. In 1970, he became chairman of Denny's Restaurants.
Fourteen years later, Winchell left the doughnut and restaurant business when he sold his Denny's stock for a reported $600 million.
Ron Winchell, Verne Winchell's son began a chain of Restaurants in the Las Vegas area named "Winchell's Pub and Grill". First restaurant opened in South Las Vegas back in 2000. Later on, he expanded the chain by opening 2 more restaurants in 2003. One in South Las Vegas, and one in North Las Vegas. The Winchell legacy continues as today, July 18, 2008, Ron Winchell opens up yet another restaurant in North Las Vegas with plans to open up 2 more restaurants in a few months.
Thoroughbred horse racing
A fan of
thoroughbred horse racing , Winchell bred more than 60 stakes winners and raced more than 40. Among those horses,Olympio won the 1991American Derby . He also had three starters in theKentucky Derby : Classic Go Go, who finished fourth in 1981; Sea Cadet, who finished eighth in 1991; and Valiant Nature, who finished 13th in 1994.Donut King, the first horse Winchell bought at auction, was among the favorites for the 1954 Kentucky Derby but was injured the week of the race and didn't run.
Ronnie's Baby, which was co-bred with
Ronald Reagan and purchased in 1958 fromDesi Arnaz , did not race to a high level.External links
* [http://64.233.167.104/search?q=cache:kphg7g-qRUgJ:www.broward.com/mld/mcherald/news/obituaries/4629799.htm Monterey County Herald |
29 November 2002 | Doughnut mogul Winchell dies at 87]
* [http://www.ntra.com/stats_bios.aspx?id=3406 Verne H. Winchell at the NTRA]
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