News

Fazoli's has new investor

Sun Capital Partners has sold its investment in Fazoli’s Group to Sentinel Capital Partners, a Sun Capital affiliate.

July 7, 2015

Sun Capital Partners has sold its investment in Fazoli's Group to Sentinel Capital Partners, a Sun Capital affiliate. Terms of the private transaction were not disclosed, according to a company press release.

"The sale does not change anything for the team, and we are all very excited to start the next chapter," Carl Howard, CEO of Fazoli's, wrote an email to FastCasual.com.  "Sentinel will allow the Fazoli's team to move much faster and remove our liquidity constraints that we have had for the last seven years."

Following the acquisition of Fazoli's by a Sun Capital affiliate in 2006, significant operational initiatives included management team enhancements, the revitalization of the company's menu through an improvement in food quality and variety, investments in internal and external facility and décor updates, the introduction of enhanced guest experience and service programs, a refining of marketing tactics and the implementation of cost-saving initiatives that streamlined operations, Marc Leder, co-CEO at Sun Capital, said in a company press release.

"Fazoli's' strong performance is a testament to the combined impact Sun Capital's deep restaurant expertise and a world-class management team can have in transforming potential into sustained results," Leder said. "We firmly believe Fazoli's is well positioned to achieve continued success under its new owner."

This transaction marks the culmination of a successful partnership with the company's management team that revitalized Fazoli's award-winning brand, said M. Steven Liff, senior managing director at Sun Capital.

"The largest menu upgrade in the Company's history combined with a renewed focus on providing its customers with an enhanced dining experience has positioned Fazoli's as a strong player in the premium QSR/fast casual segment, with plenty of opportunity for future growth."