Salt Creek Capital has acquired Miami-based Corporate Caterers, a national franchisor catering company. No financial terms were disclosed.
Menlo Park, California – September 25, 2017 – Salt Creek Capital is pleased to announce the acquisition of Corporate Caterers (CC), a national franchisor catering company headquartered in Miami, Florida. Founded in 1997, CC currently supports 20 franchisees operating across the U.S., operates two company owned locations, and manages a corporate call center.
Greg Halton, incoming CEO, stated, “Corporate Caterers offers great food and outstanding service, and I look forward to working with the team towards continued success. The Company’s franchise model has demonstrated solid growth, and we are eager to open new locations and expand our footprint across the U.S.”
The founders of CC, Dennis McGinley and Jim Gass, will maintain an ownership position in the Company and will continue working with Mr. Halton to manage the company owned locations and to support the franchise network. Mr. Gass commented, “Leading this company over the past 20 years has been very rewarding, and we are eager to begin our partnership with Greg and Salt Creek Capital as we take this concept to the next level. Greg has a strong track record as an executive leader in the hospitality industry, and we are excited for him to lead Corporate Caterers in this new chapter.”
“Jim and Dennis built an exceptional business, and we are delighted they chose to work with us during the Company’s next phase of growth,” added Dan Mytels, Managing Director of Salt Creek Capital. “The Company’s strong foundation and proven model combined with Greg’s demonstrated leadership are a compelling fit, and we look forward to supporting the Company’s expansion in the coming years.”
About Corporate Caterers
Corporate Caterers is a Franchise Disclosure Document licensed franchisor that provides catering services to a variety of customers throughout the United States. Founded in 1997, the Company currently has 20 operating franchises, two operating company owned businesses, and a corporate call center. CC franchises are available nationally, and currently span across 12 states. CC is the only nationally franchised catering company of its type. More information is available at www.corpcaterers.com.
About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay Area-based private equity firm that partners with experienced operating executives to acquire profitable companies with up to $100 million in revenue. Salt Creek takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and to improve the operating efficiency of its portfolio companies. More information is available at www.saltcreekcap.com.