Atlantic Street Capital has acquired The Sandwich Shop Holdings Company. No financial terms were disclosed. Based in Chicago, The Sandwich Shop Holdings Company owns and operates 23 franchised Jimmy John’s Gourmet Sandwich Shop restaurants in the greater Chicago area.
STAMFORD, CT, August 4, 2015 – Atlantic Street Capital, a private equity firm targeting entrepreneurial businesses poised for the next level of growth, announced today the acquisition of The Sandwich Shop Holdings Company, a leading franchisee of Jimmy John’s Gourmet Sandwich Restaurants in the greater Chicago area and one of the largest Jimmy John’s franchisees in the U.S.
Founded by Jimmy John Liautaud in 1983 and headquartered in Champaign, Illinois, Jimmy John’s is a fast casual submarine sandwich chain with nearly 2,000 restaurants located across the United States. The Sandwich Shop Holdings Company (“TSSHC”) owns and operates 23 franchised Jimmy John’s Gourmet Sandwich Shop restaurants in the greater Chicago area. It was founded in 2001 and is headquartered in Chicago.
Faisal Ghani, the founder of TSSHC will serve as Chief Executive Officer of the company.
“We are very excited to be investing to help grow the Jimmy John’s brand,” said Andy Wilkins, a Managing Partner at Atlantic Street Capital. “The simplicity, timelessness, and reasonable price points of Jimmy John’s sub sandwiches results in a concept that works in any market and across socio-economic demographics. Faisal and his team have built a strong and profitable company and we look forward to partnering with him and his executive team to broaden the company’s geographic base well beyond the greater Chicago area.”
Mr. Ghani, said, “Atlantic Street Capital has the financial and operational resources to help us grow the company beyond the Midwest. Importantly, they understand and share our passion for the Jimmy John’s philosophy whose fresh ingredients and customer value serve as the cornerstone for our success. We look forward to having them as partners in our growth.”
About Atlantic Street Capital
Atlantic Street Capital is a private equity firm that invests in middle market companies with between $25 and $150 million in revenue. The firm invests in fundamentally sound companies that will benefit from capital investment and value-adding strategic and operational initiatives. Atlantic Street Capital’s partners are hands-on investors who work closely with management to unlock their business’ underlying value and help them succeed. The firm is currently investing from Atlantic Street Capital Partners, L.P. II. For more information, visit www.atlanticstreetcapital.com.