Goode Partners buys Stonefire Grill

Goode Partners LLC has acquired Stonefire Grill Inc. Financial terms weren’t announced. Stonefire is a fast-casual dining concept in the Southern California market. Merit Harbor Group advised Stonefire.

PRESS RELEASE

SEATTLE, WASHINGTON (PRWEB) OCTOBER 26, 2016
Merit Harbor Group, a Seattle-based investment bank, is pleased to announce the acquisition of Stonefire Grill, Inc. by Goode Partners, LLC. Craig Dickens, CEO of Merit Harbor, stated “Stonefire Grill is a strong company and by guiding them through the deal process, we were able to achieve the best possible outcome. We were honored to be able to help Stonefire Grill close a successful deal with Goode Partners, a leading private equity group in the consumer space.”
Stonefire Grill was cofounded in 2000 by Mary Harrigan and Kaduri Shemtov as a premier fast-casual dining concept in the Southern California market. “We are incredibly excited about what this means, not only for the Stonefire Grill brand, but also for the team that helped build it into what it is today,” said Harrigan. “This next phase of growth provides opportunities for the entire organization.” Stonefire Grill has positioned itself with a diverse mix of menu items and focuses on home-made style recipes made with fresh ingredients. Its eight locations offer a unique blend of convenient dine-in, take-out and catering options.
Goode Partners acquired a majority position in the company to support Stonefire Grill’s plan to expand its unique offering to new markets. “We are excited to be partnering with the founders and management team to expand this neat concept,” said Dan Bonoff, a Partner at Goode. “Stonefire’s menu of reasonably priced, made-from-scratch items is broadly appealing for both on-premises and off-premises dining. In an environment where consumers have what seems to be ever increasing dining options and lower grocery costs, Stonefire Grill has been able to grow impressively by offering a truly compelling quality/value proposition. We look forward to working with this talented team to introduce this emerging concept to more consumers.”
Goode Partners focuses on investments in consumer-oriented growth opportunities. Prior investments have included Rosa Mexicano, Dave’s Killer Bread, Skullcandy, La Colombe Torrefaction, Silver Diner, and Chuy’s Mexican Grill.
Financial advisory throughout the deal was provided by Peterson Sullivan and legal advisory by Karr Tuttle Campbell.
About Merit Harbor Group
Merit Harbor Group focuses on sell-side, buy-side and capital raising activities for lower middle-market companies in a wide range of industries. Merit Harbor guides owners through the acquisition process creating opportunities to discover the high side of their value. Learn more at Merit Harbor Group.
For more information about this transaction, please feel free to contact the deal team: