Restaurants & Hospitality Acquisitions in Oregon

Fitness Ventures LLC has acquired three existing Crunch Fitness locations in Portland, Oregon and plans a $75 million investment to build 15 new Crunch 3.0 locations across the market over the next several years. The deal is part of Fitness Ventures' broader expansion strategy to upgrade or relocate smaller-format clubs into larger Crunch 3.0 facilities and grow its footprint in the region.

Craveworthy Brands has acquired Kinnamōns, a gourmet cinnamon roll concept founded in Oregon in 2022 and backed by entrepreneur and NFL champion Ndamukong Suh. Craveworthy plans to scale the artisan bakery nationally through its franchising program and to support the brand with operations, marketing, supply chain and training capabilities.

MGG Investment Group has made an investment in 42 Shari's Restaurants locations in Oregon, representing roughly half of the chain's 85 restaurants. Terms were not disclosed; Gather Holdings (Shari's parent) said the capital infusion will support recovery from COVID-19 and that MGG brings experience in video lottery gaming operations present at the Oregon locations.

Provenance Hotels sold its minority interest in the 151-room Woodlark Hotel to majority owner NBP Capital, which also acquired the hotel's management rights. Terms were not disclosed; NBP will assume operational control while Provenance will continue to partner with NBP on two other Seattle projects.

Avenir Hospitality has acquired the Cannon Beach Hotel Collection, a portfolio of four boutique hotels in Cannon Beach, Oregon. Avenir has partnered with New York-based Life House to manage the properties as the firm's first entry into the Pacific Northwest.

Portland-based Sortis Holdings, through its Sortis Rescue Fund, has acquired Sustainable Restaurant Group (SRG), owner of the Bamboo Sushi restaurant chain, out of bankruptcy and will assume operational control. Existing investors Bain Capital Double Impact and Kitchen Fund have reinvested in the business; Sortis plans to reopen locations, rehire staff, and pursue a resumed growth strategy after pandemic disruptions.