Restaurants & Hospitality Acquisitions in 2016

Elite Restaurant Group has agreed to acquire Slater's 50/50, including six restaurants and the brand's intellectual property, from founder Scott Slater. The deal, expected to close in February, will see Scott Slater step down as president and remain on as an advisor while the buyer plans renovations, company-owned expansion and a franchising program to grow the brand beyond Southern California.

New York-based private equity firm Goode Partners has made a strategic growth investment in STONEFIRE Grill, a Southern California fast-casual restaurant chain headquartered in Westlake Village, California. The capital will be used to accelerate unit growth within its core Southern California market and expand into new geographic territories.

Goode Partners, a New York-based private equity firm, made a strategic growth investment in Silver Diner to fund geographic expansion and accelerate the restaurant group's growth. Silver Diner, headquartered in Rockville, Maryland, operates roughly 15 locations across New Jersey, Maryland and Virginia and will partner with founders Robert Giaimo and Ype Von Hengst to expand its footprint and menu offerings.

PWP Growth Equity, a private equity fund managed by Perella Weinberg Partners, made a growth equity investment in Black Bear Diner to support continued expansion. The investment will fund investments in people, systems and new restaurant openings while the existing executive team, including co-founder Bruce Dean, remains in place; financial terms were not disclosed.