SUSHI SHOP GROUP acquired by AMREST

Focus Brands completed its acquisition of Jamba in September 2018 following a tender offer for all outstanding shares. The deal was initially announced in August 2018 and closed after a majority of Jamba shares were tendered, with the remaining shares acquired through merger under Delaware law. Jamba became a wholly owned subsidiary of Focus Brands and continued to operate as an independent brand within the group. The strategic logic was to add a premium beverage and lifestyle concept to Focus Brands' portfolio and strengthen its position across snack and restaurant occasions. Jamba brought a recognized smoothie and juice platform with strong franchise operators, a health-oriented menu, and more than 800 locations worldwide. For Focus, the acquisition expanded its reach beyond baked goods and sandwiches into the fast-growing beverage and wellness category, while also creating cross-brand opportunities with its existing franchise base. The transaction aligned with Focus' broader strategy of assembling a family of consumer brands that could benefit from shared capabilities in marketing, franchise support, and capital allocation.

In a definitive move to consolidate the Mediterranean fast-casual segment, Cava Group has agreed to acquire Zoe’s Kitchen. The deal is structured as a public-to-private (P2P) acquisition. This merger will create a combined entity with 327 restaurants across 24 states, establishing the clear market leader in the category.The acquisition is being financed through a substantial equity investment led by Act III Holdings, the investment vehicle of Ron Shaich (founder of Panera Bread), with participation from The Invus Group and existing Cava investors. This transaction effectively serves as a strategic turnaround play; Cava intends to apply its superior digital infrastructure and innovation-led management style to the extensive physical footprint of Zoe’s Kitchen, which had recently struggled with declining same-store sales and net losses.

Kharis Capital has acquired a majority stake in O'Tacos Corporation, alongside the company's historical founders who will retain operational involvement in the management of the group. This transaction is part of a strategy to accelerate the development of the network, with the goal of supporting growth in France and, more importantly, driving the brand's international expansion. The entry of Kharis Capital enables O'Tacos to leverage the expertise of a specialized investor in the organized restaurant sector, with a proven track record in developing large-scale quick-service restaurant networks across Europe. The transaction also aims to further structure the franchise platform, enhance the group's execution capabilities, and accelerate the opening of new locations in multiple international markets. This move marks a key milestone in O'Tacos' transformation into a European quick-service restaurant brand with international scope.

JAB acquired a majority stake in Pret A Manger from Bridgepoint and other minority shareholders in May 2018. The transaction value the company above £1.0b including debt, with Pret shareholders and employees benefiting from the change in ownership. The deal followed more than a decade of Bridgepoint ownership and gave JAB control of one of the U.K.'s best-known ready-to-eat food chains. The strategic rationale was to add a premium, high-frequency food and coffee brand to JAB's expanding consumer platform. Pret brought a strong U.K. core, a growing international footprint, and a menu centered on freshly prepared sandwiches, salads, wraps, and beverages. JAB saw Pret as a natural complement to its existing coffee and foodservice holdings, giving it another branded concept with cross-market expansion potential and strong consumer loyalty. The company’s emphasis on quality ingredients and prepared-in-shop offerings aligned with JAB’s broader interest in premium, margin-rich consumer businesses.

Equistone Partners Europe finalized the acquisition of a majority stake in the Karavel-Promovacances and Fram groups from LBO France. The transaction was structured through a €30 million investment, providing the group with the strategic liquidity required to complete its financial recovery. This transaction represents a strategic transition from one financial sponsor to another, avoiding a trade sale to an industrial giant that might have triggered heavy restructuring. The deal involves significant management reinvestment, with the co-founders and CFO maintaining a key role in the capital structure. The primary objective is to complete Fram’s financial recovery and celebrate its 70th anniversary in 2019 with a return to profitability. At the acquisition date, the combined entities represented a turnover of €507 million.

Ontario Teachers' Pension Plan (OTPP) acquired a 40% minority stake in European Camping Group from Montefiore Investment and the management team. Montefiore Investment, which originally took the company private in 2014, remains the majority shareholder. This partnership aims to provide ECG with the long-term capital necessary to accelerate its international build-up strategy and consolidate its leadership position in the fragmented European campsite market.

Apollo Global Management completed its acquisition of Qdoba Restaurant Corp. from Jack in the Box in March 2018 after a definitive agreement announced in December 2017. The all-cash transaction valued the fast-casual Mexican chain at a significant premium and was funded by Apollo funds, with Qdoba becoming a privately held portfolio company after closing. Jack in the Box used the proceeds to reduce debt and further shift toward a more capital-light business model centered on its core burger brand. he strategic rationale was to separate Qdoba from Jack in the Box and give the chain a dedicated owner focused on its next phase of growth. Qdoba brought a recognizable Mexican fast-casual concept with more than 700 restaurants, strong systemwide sales, and a large footprint across the U.S. and Canada. Apollo saw an opportunity to support the brand through operational investment, menu development, franchise expansion, and improved positioning in a highly competitive category. At the time, Qdoba was the second-largest fast-casual Mexican chain in the United States, but it had been under pressure from weaker same-store sales, creating a clear case for active ownership and performance improvement.

Arby's Restaurant Group completed the acquisition of Buffalo Wild Wings and simultaneously launched Inspire Brands as a new multi-brand restaurant platform. Following closing, Buffalo Wild Wings continued to operate as an independent brand within the Inspire structure, with its management team remaining in place to support continuity and execution. The strategic rationale was to create a diversified restaurant company with scale across multiple occasions and channels, rather than relying on a single concept. Buffalo Wild Wings added a strong casual dining and sports bar brand to Arby's sandwich-led portfolio, giving Inspire exposure to a different customer segment, a more social dining format, and a brand with national awareness and meaningful growth potential. The deal also allowed the combined group to leverage shared expertise in franchising, marketing, digital capabilities, and procurement, while preserving the operating identity of each brand. At the time of launch, Inspire oversaw more than 4,600 company-owned and franchised restaurants across 14 countries, with combined 2017 global system sales above $7.6 billion.

Permira acquired a controlling stake in La Piadineria from the specialized fund Idea Taste of Italy (managed by Dea Capital Alternative Funds). The high valuation reflects the intense competition during the auction (bidders included Bain, Carlyle and L Catterton). The seller reinvested to keep a minority stake (10%) alongside the management team. The deal aims to accelerate store openings in Italy and establish a presence in European markets, starting with France (Nice and Marseille).

Leonard Green & Partners (LGP) has entered into a binding agreement to acquire a controlling interest in Pure Gym from CCMP Capital Advisors. This secondary buyout marks the complete exit for CCMP, which had held a majority stake since May 2013. The acquisition is a strategic entry for LGP into the UK fitness market, leveraging its extensive track record and expertise in the leisure and retail sectors. For Pure Gym, the partnership with LGP provides a new capital partner to fuel the next phase of its growth momentum following its successful rise to the top of the UK market. The deal values the company at a significant premium, reflecting its status as a market leader with nearly 1 million members and 189 operational sites. From a transaction facts perspective, the deal was supported by a $9.6 billion fund (Green Equity Investors VII), underscoring LGP's capacity for large-scale consumer service buyouts. This change in sponsorship signals a continued institutional belief in the scalable, low-cost "no-frills" fitness model and positions Pure Gym for potential future internationalization under Los Angeles-based ownership.