M&A Deal Summary

CraftWorks Acquires Rock Bottom Restaurants

On January 1, 2010, CraftWorks acquired restaurant Rock Bottom Restaurants from GarMark Partners

Acquisition Highlights
  • This is CraftWorks’ 1st transaction in the Restaurants sector.
  • This is CraftWorks’ 1st transaction in the United States.
  • This is CraftWorks’ 1st transaction in Colorado.

M&A Deal Summary
Date 2010-01-01
Target Rock Bottom Restaurants
Sector Restaurants
Buyer(s) CraftWorks
Sellers(s) GarMark Partners
Deal Type Add-on Acquisition
Advisor(s) Duff & Phelps Corp. (Financial)

Target

Rock Bottom Restaurants

Louisville, Colorado, United States
Rock Bottom has 84 restaurants in 17 states and the District of Columbia, operating under the names Rock Bottom Restaurant and Brewery and Old Chicago. The Company's restaurants operate in the casual dining segment and feature high-quality food and a distinctive selection of microbrewed and specialty beers.

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Buyer(S) 1

Buyer

CraftWorks

Chattanooga, Tennessee, United States
Category Company
Founded 2010
Sector Restaurants
DESCRIPTION

CraftWorks is a multi-brand restaurant operator headquartered in dual offices between Chattanooga, Tennessee and Broomfield, Colorado USA. It operates restaurants, brewery restaurants and entertainment venues.

DEAL STATS #
Overall 1 of 3
Sector (Restaurants) 1 of 3
Type (Add-on Acquisition) 1 of 3
State (Colorado) 1 of 1
Country (United States) 1 of 3
Year (2010) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-15 Gordon Biersch Brewery

Chattanooga, Tennessee, United States

Gordon Biersch Brewery is a chain of upper-end casual dining restaurants. Gordon Biersch owns and operates 32 restaurants located in 13 states. The restaurants offer innovative food paired with premium beverages, including handcrafted lagers and ales brewed on restaurant premises.

Buy -

Seller(S) 1

SELLER

GarMark Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GarMark Partners is a private investment firm that makes debt and equity investments in a wide range of companies. The Firm invests in businesses at various stages of development to facilitate acquisitions, divestitures, recapitalizations, turnarounds or growth. Garmark typically invests between $5 and $30 million with an EBITDA $3 and $25 million. The firm prefers to invest in the sectors of manufacturing/industrial products, distribution, business services, consumer brands, food/nutrition products, transportation, healthcare, retail, and restaurants. GarMark Partners was formed in 1997 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 12 of 21
Sector (Restaurants) 1 of 2
Type (Add-on Acquisition) 8 of 14
State (Colorado) 1 of 1
Country (United States) 10 of 19
Year (2010) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-04-24 Phoenix Services

Radnor, Pennsylvania, United States

Phoenix Services is a global provider of value-added industrial services to steel mills serving world class customers such as ArcelorMittal, Nucor Steel, and US Steel, among others. The Company has a global workforce of approximately 2,100 employees and operates in 34 locations on four continents. Phoenix Services was founded in 2006 and is based in Radnor, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-24 Mid-Atlantic Convenience Stores

Richmond, Virginia, United States

Mid-Atlantic Convenience Stores (MACS) is a convenience store operator in Maryland and Virginia.

Buy -
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