Brentwood Associates Invests in Zoe's Kitchen in Partnership with Cassimus and Dollarhyde
2007-11-05 11:58:58
- Brentwood Associates, a leading Los Angeles-based private equity investment firm, announced that it has made a significant investment in Zoe's Kitchen USA, LLC, headquartered in Birmingham, Alabama. Led by President and CEO John Cassimus, ZOES KITCHEN is a rapidly growing, fast casual restaurant concept offering fresh, made-from-scratch menu items inspired by Mediterranean cuisine. The son and leading member of the founding family, Cassimus will retain substantial ownership of the company and will continue in his current leadership role. Concurrent with the transaction, fast-casual industry veteran Greg Dollarhyde will invest in the company and serve as its Executive Chairman.
Anthony Choe, general partner at Brentwood, commented "We are delighted to be partners with John Cassimus, whose energetic leadership has created a culture of operations excellence at ZOES KITCHEN. He's someone who knows how to lead by example, and his make-it-happen approach is infectious. We are also excited be to partnering again with Greg Dollarhyde, whose industry experience will be invaluable in helping the Company achieve its growth objectives."
Founded in 1995 by Marcus and Zoe Cassimus, ZOES KITCHEN is renowned for its straightforward menu with "craveable" items such as the Chicken Roll-Up, the all white meat Chicken Salad Sandwich and the grilled turkey "Gruben" that allow loyal customers to Eat Smart. Eat Fresh(C). A three-time football letterman and finance graduate of the University of Alabama, Cassimus assumed control of the Company in 1999, creating an innovative re-design that led to the company's successful and rapid geographic expansion. Today, the ZOES KITCHEN system has 19 locations, comprised of 16 company-owned and 3 franchised locations in the six states of Alabama, Arizona, Florida, Louisiana, Tennessee, and Texas.
Commenting on the new partnership, CEO Cassimus said "I am truly excited about our future opportunities at ZOES and look forward to the experience, strategic input and financial resources of my new partners as we continue to rapidly grow ZOES in the Southeast and beyond. I believe they understand that our unique concept and passionate people are the key drivers of our success."
Brentwood will again be partnering with Dollarhyde who has served as the Chairman or CEO of six different restaurant companies. Dollarhyde currently serves as the Executive Chairman of Pacific Island Restaurants, a Brentwood portfolio company that is the exclusive franchisee of 93 PIZZA HUT and TACO BELL restaurants in Hawaii, Guam and Saipan. Prior to Pacific Island Restaurants, Dollarhyde was the CEO of BAJA FRESH, where he oversaw its rapid growth from less than 50 restaurants to over 200 restaurants in less than four years.
Commenting on the transaction, Dollarhyde simply stated, "John and ZOES KITCHEN are real winners. I'm thrilled to support the team in achieving ZOES KITCHEN's full potential!"
ZOES KITCHEN was advised by Brookwood Associates with legal advice from Burr & Forman LLP. Brentwood received legal advice from Kirkland & Ellis LLP.
Zoe's Kitchen USA, LLC
Zoe's Kitchen USA, LLC (www.zoeskitchen.com) is a fast casual restaurant concept founded in 1995 and headquartered in Birmingham, Alabama. The concept offers fresh, made-from-scratch gourmet sandwiches, salads, pitas, hot entrees and roll-ups that are inspired by Mediterranean cuisine. The Company has 19 restaurants system-wide, including company-owned and franchised stores, located in six states.
Brentwood Associates
Brentwood Associates (www.brentwood.com) is a private equity investment firm with over $750 million of capital under management and a thirty-year history of investing in leading middle-market growth companies. Brentwood focuses primarily on consumer-related investments, where it is able to leverage its extensive experience in areas such as: branded consumer products; consumer services; direct marketing; education; health, wellness, and conscious living; restaurants; and specialty retail. Since 1984, Brentwood's dedicated private equity team has invested in 37 portfolio companies with an aggregate transaction value of $5 billion. With significant experience in both investing and operations, Brentwood is a value-added partner to entrepreneurs and executives building world-class companies. ZOES KITCHEN is the fifth investment from Brentwood Associates Private Equity IV, L.P.
Zoe's Kitchen USA, LLC
John Cassimus, 205-414-9920
or
Brentwood Associates
Anthony Choe, 310-477-6611
View the original source for this press release on Brentwood Associates at PR-inside.
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