Sun Capital Partners has acquired Bar Louie Restaurants, a Chicago-based casual-to-upscale restaurant chain, from an affiliate of Restaurant America. No pricing terms were disclosed.
We are pleased to announce that an affiliate of Sun Capital Partners, Inc. has completed the acquisition of Bar Louie Restaurants (“Bar Louie”) from an affiliate of Restaurant America. Upon the execution of the asset purchase agreement, a Sun Capital affiliate provided a senior secured credit facility to refinance Bar Louie’s existing debt and liabilities and provide short-term liquidity until the closing of the acquisition on May 31, 2010 (after the transferring of state liquor licenses). The purchase price was bridged by an affiliate of Sun Capital Partners, Inc.
Bar Louie is an award-winning restaurant concept launched in 1991 with 44 locations nationwide – including Pittsburgh, Columbus, Foxborough, Washington DC, Tampa and Chicago. Uniquely positioned in the casual to upscale lunch and dining segment, Bar Louie is a progressively hip neighborhood restaurant and bar with a lively atmosphere. The Company is known for its creative hand-crafted cocktails and extensive menu options that range from familiar American comfort food — such as sandwiches, salads, pizzas — to international menu items, including Mexican or Mongolian appetizers. Bar Louie is headquartered in Chicago, IL and employs 1,950 people.
About Sun Capital: Sun Capital Partners is a leading private investment firm focused on leveraged buyouts, equity, debt and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in over 230 companies worldwide since inception in 1995, with combined sales in excess of $40 billion. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen.