News

Private equity firm assumes ownership interest in Newk's Eatery

March 26, 2014

Newk's Holding Company today announced that Sentinel Capital Partners, a New York-based private equity firm, has made a capital investment in the Newk's Eatery brand and assumed ownership interest in the company.

According to a news release, Newk's Holding Company, with 67 franchised and company-owned restaurants across 13 states, is scheduled to open 15 locations this year and reach 200 total restaurants by 2019.

"Newk's Eatery is growing into a top-performing middle market franchise restaurant brand," Sentinel partner James Coady said in the release. "The growth trajectory of Newk's business and the fact that many franchisees are experiencing double-digit year-over-year growth is testament to the strength of their fresh restaurant concept and its profitability."

Chris Newcomb will remain Newk's president and CEO and, along with the company's leadership team, will oversee brand penetration into new and established markets.