M&A Deal Summary

Modern Restaurant Concepts Acquires Lemonade Restaurant Group

On February 20, 2019, Modern Restaurant Concepts acquired restaurant Lemonade Restaurant Group from KKR

Acquisition Highlights
  • This is Modern Restaurant Concepts’ 1st transaction in the Restaurants sector.
  • This is Modern Restaurant Concepts’ 1st transaction in the United States.
  • This is Modern Restaurant Concepts’ 1st transaction in California.

M&A Deal Summary

Date 2019-02-20
Target Lemonade Restaurant Group
Sector Restaurants
Buyer(s) Modern Restaurant Concepts
Sellers(s) KKR
Deal Type Merger

Target

Lemonade Restaurant Group

Los Angeles, California, United States
website
Lemonade Restaurant Group LLC is an operator of 14 fast-casual restaurants in a modern cafeteria setting in Southern California. It offers high-quality, chef-driven menu and a highly-customizable experience. Lemonade Restaurant Group was founded in 2008 and is based in Los Angeles, California.

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Buyer(S) 1

Buyer

Modern Restaurant Concepts

Denver, Colorado, United States

website


Category Company
Founded 2009
Sector Restaurants
DESCRIPTION

Modern Restaurant Concepts is a farm-to-table fast casual restaurant company that operates restaurants across Colorado, Texas, Arizona, D.C. and Maryland serving healthy, high-quality, sustainably-sourced, scratch-made fare at an attractive price point. Modern Market’s menu features a variety of protein-centric plates and bowls, garden fresh salads, toasted sandwiches and brick oven pizzas served in a comfortable and highly-convenient format well-suited to meet the rapidly-changing demands of the modern restaurant consumer. Modern Restaurant Concepts was founded in 2009 by Co-Founders and Co-CEOs Anthony Pigliacampo and Rob McColgan and is based in Denver, Colorado.


DEAL STATS #
Overall 1 of 2
Sector (Restaurants) 1 of 2
Type (Merger) 1 of 2
State (California) 1 of 2
Country (United States) 1 of 2
Year (2019) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-09 Qdoba Restaurant

San Diego, California, United States

Qdoba Restaurant operates and franchises fast-casual Mexican restaurants under the name Qdoba Mexican Grill. Qdoba Mexican Grill combines fresh ingredients with an innovative combination of sauces and marinades to create non-traditional, fast-casual Mexican fare. Qdoba Restaurant was founded in 1995 and is based in San Diego, California.

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Seller(S) 1

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 119 of 173
Sector (Restaurants) 2 of 2
Type (Merger) 2 of 4
State (California) 10 of 15
Country (United States) 57 of 81
Year (2019) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-12 Coty

New York, New York, United States

Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty was incorporated in 1904 and is headquartered in New York, New York.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-21 Leonine Studios

Munich, Germany

Leonine Studios is an integrated media company with some 3,200 active titles in its program portfolio. Leonine was founded in 1970 and is based in Munich, Germany.

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