Mastodon Ventures, Inc. is pleased to announce the closing of the sale of Bar Louie Restaurants to an Affiliate of Sun Capital Partners, Inc. Terms of the transaction were not disclosed. The transaction closed May 30, 2010.
Known for its award-winning restaurant concept launched in Chicago in 1991, today there are 36 Bar Louie locations and 7 franchised units nationwide – including in Pittsburgh (Pennsylvania), Columbus (Ohio), Foxborough (Massachusetts), Washington DC, Tampa (Florida), and six in Chicago (Illinois). Uniquely positioned in the casual to upscale lunch and dining segment, Bar Louie is a progressively hip neighborhood restaurant and bar with a lively atmosphere, known for its creative hand-crafted cocktails and extensive variety of delicious menu options that range from familiar American comfort food – such as sandwiches, salads, pizzas – to international menu items, including Mexican or Mongolian appetizers. Menu items are priced from $4 to $17, with the average lunch and dinner check running at $12 and $22 respectively. Bar Louie Development, Inc. was created in 2005 as the franchising arm of the Bar Louie concept.
In addition to Bar Louie Restaurants, Sun Capital counts among its affiliated portfolio companies a number of other restaurant businesses, such as Boston Market, Bruegger's, Captain D's, Fazoli's Restaurants, Friendly's, Garden Fresh, Restaurants Unlimited, Smokey Bones Barbeque & Grill and Souper Salad. The firm places strong emphasis on in-house operational expertise, and partners closely with the management teams of its portfolio companies to grow their businesses and improve their operations.
Anthony Polazzi, a Principal with Sun Capital Partners, Inc. commented, "Mastodon provided a wide range of services to Bar Louie that were critical in navigating a very complex and uncertain transaction. The team at Mastodon was tireless in working to facilitate negotiations between us and the owners of Bar Louie and went well beyond what you would get from a typical M&A banker. We look forward to working with Mastodon on future transactions."
Mastodon Ventures, Inc. served as the exclusive strategic advisor for Bar Louie in connection with this transaction. R. Kymn Harp of Robbins Salomon & Patt acted as Legal advisor to the Seller. Prior to this transaction, Mastodon had completed two advisory assignments for Bar Louie including a refinancing transaction in 2009.
Mastodon Ventures, Inc. is a national strategic advisor focused on the restaurant industry. Mastodon Ventures, Inc. provides a wide range of advisory services to restaurant companies and their financial sponsors including mergers acquisitions, debt and equity financing, financial restructuring, and valuation.
If you would like more information about Mastodon Ventures, Inc., or if you have questions regarding the sale of Bar Louie Restaurants, please contact Robert Hersch, Managing Director at 512-498-1212 or rhersch@mastodonventures.com
Contacts:
Mastodon Ventures, Inc.
Robert Hersch, 512-498-1212
Managing
Director
rhersch@mastodonventures.com