Elite Restaurant Group Acquires Daphne's (Daphne's California Greek)
April 27, 2018
Los Angeles-based Elite Restaurant Group, led by Mike Nakhleh, is acquiring the Daphne's California Greek brand and has taken over operations of 23 California locations. Elite plans to remodel the restaurants, simplify the name to Daphne's, launch a new menu and retail products, and pursue growth via franchising and adding roughly 10 corporate locations per year.
- Buyers
- Elite Restaurant Group
- Targets
- Daphne's (formerly Daphne's California Greek)
- Sellers
- Investment firm led by Bill Trefethen
- Industry
- Restaurants & Hospitality
- Location
- California, United States
- Transaction Type
- Buyout
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