Andrew Feghali and Michael Khalil Acquire Little Caesars Franchise Locations; Cam Jordan Joins as Investor

Mubadala Capital Acquires K-MAC Enterprises

October 14, 2021

Restaurants & Hospitality

Mubadala Capital, the Abu Dhabi-based asset management subsidiary of Mubadala Investment Company, has acquired K-MAC Enterprises — the second-largest Taco Bell franchisee in the United States — from Lee Equity Partners Opportunities Fund in partnership with K-MAC's existing management team. K-MAC operates over 300 Taco Bell restaurants primarily in the Midwestern and Southern United States; Mubadala said the acquisition will support K-MAC's next phase of growth, including expanded use of technology and new concepts and formats.

Blackstone Acquires Majority Stake in Jersey Mike's Subs

November 19, 2024

Restaurants & Hospitality

Private equity firm Blackstone has agreed to acquire a majority ownership position in Jersey Mike's Subs, with founder and CEO Peter Cancro retaining a significant equity stake and remaining CEO. The partnership is intended to accelerate Jersey Mike's U.S. and international expansion and support investments in technology and digital transformation; the transaction is expected to close in early 2025 pending customary approvals.

Liftout Capital Acquires Majority Stake in Franchise Creator

August 15, 2023

Consulting

Denver-based Liftout Capital acquired a majority stake in Miami/Doral-based Franchise Creator, a franchise development and consulting firm; founder Hossein Kasmai will remain as CEO. True West Capital Partners provided financing to support the transaction, which Liftout said is intended to accelerate Franchise Creator's growth and expand its franchise development capabilities.

Apollo Funds Acquire Tony's Fresh Market

April 20, 2022

Retail

Funds managed by Apollo Global Management have acquired Tony's Fresh Market, a Chicago-area specialty grocery chain operating 18 stores. The founding family will remain involved as managers and minority shareholders while Apollo plans to support growth through go-to-market execution, customer loyalty programs and e-commerce expansion.

Co-CEOs Buy Mountain Mike's Pizza from Levine Leichtman Capital Partners

February 16, 2022

Restaurants & Hospitality

Levine Leichtman Capital Partners has sold its investment in Mountain Mike's Pizza to an entity controlled by the company's co-CEOs, Chris Britt and Ed St. Geme, in a management-led buyout. Mountain Mike's Pizza is a franchisor with over 245 stores across multiple western U.S. states and is headquartered in Newport Beach, California; LLCP had invested in the company in 2017 and helped drive store growth and franchising initiatives.

AEA Investors Acquires Jack's Family Restaurants

August 19, 2019

Restaurants & Hospitality

AEA Investors' Middle Market Private Equity funds completed the acquisition of Jack's Family Restaurants, a regional quick-service restaurant chain operating approximately 170 company-owned units across Alabama, Tennessee, Georgia and Mississippi. Jack's, headquartered near Birmingham (Homewood), Alabama, operates roughly 170 locations and ~5,600 employees and offers a differentiated Southern-inspired QSR concept with opportunities to expand market share in its current footprint.