An Affiliate of Sun Capital Partners, Inc. Acquires Restaurants Unlimited, Inc.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla. -- Sun Capital Partners, Inc. ("Sun Capital"), a leading private investment firm specializing in leveraged buyouts leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. and investments in market-leading companies, today announced that one of its affiliates has acquired Restaurants Unlimited, Inc. ("Restaurants Unlimited"). Restaurants Unlimited operates 29 restaurants in twelve states including 14 Kincaid's - an American Fish, Chop, and Steakhouse; 9 Palomino's - an upbeat city restaurant and bar famous for its European-inspired American cuisine Cuisine (from French cuisine, "cooking; culinary art; kitchen"; ultimately from Latin coquere, "to cook") is a specific set of cooking traditions and practices, often associated with a specific culture. ; and five other concepts such as Palisade, Cutters Bayhouse, Scott's, Ryan's Grill, and Fondi Pizzeria. Terms of the acquisition were not disclosed. Steve Stoddard, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Restaurants Unlimited, Inc., said, "This transaction represents an exciting partnership with a skilled and experienced restauranteur that has the requisite financial resources and deep operating experience to be instrumental in strengthening our brands and building out our footprint in suitable locations." M. Steven Liff, Managing Director, Sun Capital Partners, Inc., added, "From classic upscale American dining to European bistros to brick-oven Neapolitan-style pizzerias, Restaurants Unlimited focuses on creative restaurant concepts to meet the changing needs and desires of America's dining public by offering quality food, guest-first culture, and great experiences. We are very pleased to partner with Steve Stoddard and his management team by supporting them in capitalizing on growth opportunities within the Company's brands and by deepening deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. Noun 1. deepening - a process of becoming deeper and more profound the penetration of its existing markets." About Sun Capital Partners, Inc. Sun Capital Partners, Inc. 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 and managed more than 145 companies worldwide with combined sales in excess of $33.0 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , as well as affiliates with offices in London, Tokyo, and Shenzhen. For more information, please visit www.SunCapPart.com. |
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