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{{Infobox company
| name = Penguin Point
| logo = File:Penguinpointlogo.png
| logo_size = 175x
| type = [[Subsidiary]]
| genre =
| foundation = 1950
| founder = Wallace and Mary Stouder
| location_city =
| location_country =
| location = [[Warsaw, Indiana]]<ref name="b" />
| locations = 9
| area_served = [[Northern Indiana]]
| industry = [[Restaurant]]
| products = Burgers, fried chicken, tenderloin sandwich, fries, drinks, salads, seafood, and shakes.
| services =
| revenue =
| operating_income =
| net_income =
| assets =
| equity =
| owner =
| num_employees =
| parent = US Assets, Inc.<ref name="c" />
| divisions =
| subsid =
| homepage = {{URL|https://www.penguinpoint.com/}}
| footnotes=
}}
'''Penguin Point Restaurant Group LLC''', commonly referred to as '''Penguin Point''', is an American regional fast-food restaurant chain that is mainly located in [[Northern Indiana]]. It currently has 9 locations throughout the region. Founded by Wallace Stouder and Mary Stouder, the first restaurant was opened in [[Wabash, Indiana]]. After the restaurant chain was purchased by [[US Assets]] in [[Texas]], the restaurant chain began to expand to other areas.

== History ==
=== Northern Indiana ===
On June 6, 1950, Wallace Stouder and Mary Stouder founded Penguin Point and opened their first store at [[Wabash, Indiana]]. The restaurant was originally a [[carhop]] drive-in, and only operated during the summer.<ref name="d">{{cite news |last1=Salter Rodriguez |first1=Rosa |title=Penguin Point like 2nd home |url=http://www.journalgazette.net/news/local/focus/Penguin-Point-like-2nd-home-5910116 |accessdate=22 February 2019 |work=The Journal Gazette |date=2 December 2015}}</ref><ref name="f">{{cite web |title=Penguin Point Drive-in Restaurants |url=http://www.roadarch.com/eateries/indi2.html |website=Roadside Architecture |access-date=14 April 2019}}</ref> In 1961, the original owners gave ownership of the company to their brothers, Lloyd Stouder and Heleta Stouder. Wallace Stouder became CEO of Penguin Point after the transfer of ownership.<ref name="a">{{cite web |title=Penguin Point Franchise Systems, Inc. |url=http://www.penguinpoint.com/corporate.htm |website=Penguin Point |access-date=22 February 2019}}</ref><ref>{{cite news |title=Penguin Point Promotes Two To Key Management |url=http://www.inkfreenews.com/2013/07/19/penguin-point-promotes-two-to-key-management/ |access-date=12 April 2019 |work=InkFreeNews.com}}</ref>

In spring of 2018, the restaurant chain was purchased by US Assets, Inc., a company located in [[Dallas, Texas]].<ref name="c">{{cite web |title=Penguin Point – Us Assets, Inc. |url=https://www.usassetsinc.com/portfolio/penguin-point/ |website=US Assets, Inc. |access-date=12 April 2019}}</ref> Meier was promoted to CEO after the acquisition.<ref name="b">{{cite news |last1=Spalding |first1=Dan |title=Updates On Texas Roadhouse, Dunkin' And Other Restaurants |url=https://timesuniononline.com/Content/Local-News/Local-News/Article/Updates-On-Texas-Roadhouse-Dunkin-And-Other-Restaurants/2/453/116922 |access-date=12 April 2019 |work=Times Union Online }}</ref> The new owner wanted to try out new changes to the restaurant. This first change was the start of selling breakfast foods to people. This idea was started in the Penguin Point restaurant in [[Warsaw, Indiana]].<ref>{{cite news |last1=Luca |first1=Carli |title=Penguin Point launches breakfast menu at Detroit Street location |url=https://www.newsnowwarsaw.com/penguin-point-launches-breakfast-menu-at-detroit-street-location/ |access-date=9 April 2019 |work=News Now Warsaw |date=5 October 2018}}</ref> In the fall of 2020, new restaurants were opened in North Manchester and Columbia City, Indiana.<ref>https://www.thepaperofwabash.com/index.php?subaction=showfull&id=1599573202&ucat=1&template=FrontPage&</ref>

In November, 2022 US Assets suddenly closed 7 locations leaving 9 still in operation. Wabash, Auburn, Elkhart at 1147 Center Street, Syracuse, Columbia City, North Manchester, South Bend and 2 in Warsaw remain open. <ref>{{cite web | url=https://www.southbendtribune.com/story/business/market-basket/2022/11/22/indiana-restaurants-penguin-point-closing-seven-locations-food-near-me-south-bend/69669984007/ | title=Penguin Point closes seven locations in Northern Indiana }}</ref>

=== Beyond Northern Indiana ===
Before US Assets acquired Penguin Point, a few Penguin Point restaurants were opened in Florida, Michigan, Ohio, and Texas. However, the restaurants eventually closed.<ref>{{Cite web|url=https://www.warsawcdc.org/member/penguin-point/|title=Penguin Point|last=Staff|website=Warsaw Community Development Corporation|access-date=7 May 2019}}</ref>

In May 2019, a Penguin Point restaurant was planned to be opened on [[Fayetteville, Arkansas]].<ref>{{Cite news|url=https://www.nwaonline.com/news/2019/may/02/let-s-eat-new-restaurant-coming-to-whit/|title=LET'S EAT: New restaurant coming to White Oak Station in Fayetteville |date=2 May 2019 |work=Northwest Arkansas Democrat Gazette|access-date=4 May 2019}}</ref><ref>{{Cite news|url=https://www.nwaonline.com/news/2019/may/05/business-briefs-20190505/|title=Business briefs|date=5 May 2019|work=Northwest Arkansas Democrat Gazette|access-date=6 May 2019}}</ref> The restaurant officially opened on May 8, 2019.<ref name="Fayetteville">{{Cite news|url=https://www.fayettevilleflyer.com/2019/05/09/indiana-based-chain-penguin-point-opens-first-arkansas-restaurant-in-fayetteville/|title=Indiana-based chain Penguin Point opens first Arkansas restaurant in Fayetteville|last=Bartholomew|first=Dustin|date=9 May 2019|work=Fayetteville Flyer|publisher=Wonderstate Media, LLC|access-date=9 May 2019}}</ref> In August 2019, Penguin Point announced that another restaurant is planned to be opened at [[Owensboro, Kentucky]] and [[Louisville, Kentucky]], along with another location in [[Jacksonville, North Carolina]].<ref>{{Cite web|url=https://www.owensborotimes.com/features/business/2019/08/penguin-point-restaurant-coming-to-owensboro/|title=Penguin Point restaurant coming to Owensboro|last=Sorce|first=Ashley|date=August 6, 2019|publisher=Owensboro Times|access-date=September 19, 2019}}</ref>

All restaurants outside of Northern Indiana are currently closed.

== Products ==
Penguin Point primarily serves burgers and chicken. They also serve fish, pork, [[french fries]], and salads. The company names their burgers "Wally", which is named after the former owner Wallace Stouder, and it features the chain's signature "Wally" sauce.<ref>{{Cite book|title=Reid Duffy's Guide to Indiana's Favorite Restaurants|last=Duffy|first=Reid|publisher=Indiana University Press|year=2006|isbn=978-0-253-21879-7|location=[[Bloomington, Indiana]]|pages=136|edition=Updated}}</ref><ref name="Fayetteville" /> The chain is most famous for serving the pork tenderloin burger.<ref name="Fayetteville" /> As of April 2019, it only offered breakfast in the restaurant located in Warsaw. The menu includes breakfast sandwiches, burritos, and chicken on waffle. Along with this, the chain introduced fish to the menu.<ref name="b" />

Before the acquisition, their menu has changed little since 1950. This is due to poor reception of new food offerings when the restaurant tries to introduce them. For example, Penguin Point used to have sandwich wraps as part of their menu. However, due to poor sales, they were permanently removed from the menu.<ref name="d" />

== References ==
{{Reflist}}

== Further reading ==
* {{cite news |title=Penguin Point Reports A Net Income Gain Of 80 Per Cent |work=The Times-Bulletin |location=Van Wert, Ohio |date=February 28, 1974 |page=5}}
* {{cite news |last=Miller |first=Susan E. |date=November 8, 1995 |title=Pleasing people is his main objective |work=Tribune Business Weekly |location=South Bend, Indiana |page=4}}
* {{cite news |last=Lesar |first=Geoff |date=July 8, 2015 |title=Penguin all aglow |work=The Elkhart Truth |location=Elkhart, Indiana |page=A3}}
* {{cite news |title=Business Briefs: Penguin trucking division sold to Kosciusko company |work=Journal-Gazette |location=Fort Wayne, Indiana |date=October 7, 2002 |page=1C}}

== External links ==
* {{cite web |url=https://indianaalbum.pastperfectonline.com/photo/A9590269-469A-4C1C-A114-146542821054 |title=Sign for Penguin Point drive-in, Warsaw, Indiana, ca. 1970 |website=The Indiana Album}}

[[Category:Restaurant chains in the United States]]
[[Category:Regional restaurant chains in the United States]]
[[Category:Fast-food chains of the United States]]
[[Category:Restaurants established in 1950]]
[[Category:Restaurants in Indiana]]

Penguin Point (restaurant chain) - Revision history

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