M&A Deal Summary

Create Restaurants Holdings Acquires Il Fornaio

On September 12, 2019, Create Restaurants Holdings acquired restaurant Il Fornaio from Roark Capital Group

Acquisition Highlights
  • This is Create Restaurants Holdings’ 2nd transaction in the Restaurants sector.
  • This is Create Restaurants Holdings’ 1st transaction in the United States.
  • This is Create Restaurants Holdings’ 1st transaction in California.

M&A Deal Summary
Date 2019-09-12
Target Il Fornaio
Sector Restaurants
Buyer(s) Create Restaurants Holdings
Sellers(s) Roark Capital Group
Deal Type Add-on Acquisition

Target

Il Fornaio

Corte Madera, California, United States
Il Fornaio is an upscale restaurant concept serving creatively prepared, premium-quality Italian cuisine based on authentic regional recipes. Il Fornaio's wholesale bakeries produce over 100 varieties of hand-made breads, pastries and other artisan baked goods for sale at their own locations. Il Fornaio was founded in 1980 and is based in Corte Madera, California.

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Buyer(S) 1

Buyer

Create Restaurants Holdings

Tokyo, Japan
Category Company
Founded 1997
Sector Restaurants
Employees4,205
Revenue 145.8B JPY (2024)
DESCRIPTION

Create Restaurants Holdings plans, develops, and directly manages a diverse format of stores ranging from casual food courts. Create Restaurants Holdings was founded in 1997 and is based in Tokyo, Japan.

DEAL STATS #
Overall 2 of 2
Sector (Restaurants) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-01 SFP Dining

Tokyo, Japan

SFP Dining Co., Ltd. operates “Toriyoshi” brand restaurants serving fried and grilled chicken and “Isomaru Suisan” brand restaurants serving seafood.

Buy -

Seller(S) 1

SELLER

Roark Capital Group

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 33.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Roark Capital Group is a private equity firm that focuses on middle-market investment opportunities. The Firm targets family-owned business transfers, management/corporate buyouts, recapitalizations, going-private transactions, and corporate divestitures. Roark Capital Group pursues companies with revenues between $20 million and $5 billion, and EBITDA of $10 to $500 million. Roark Capital primarily invests in consumer and business services companies, with a particular interest in the franchise, food and restaurant, specialty retail, direct marketing and financial services sectors. Roark Capital Group was formed in 2001 and is headquartered in Atlanta, Georgia.

DEAL STATS #
Overall 10 of 18
Sector (Restaurants) 2 of 4
Type (Add-on Acquisition) 2 of 7
State (California) 1 of 2
Country (United States) 10 of 17
Year (2019) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-04 Fitness Connection

McLean, Virginia, United States

Fitness Connection is a category leader in the HVLP fitness segment, offering the full range of amenities and services of a large, full-service premium club for as low as $10 per month. Memberships include access to state-of-the-art strength/cardio equipment, functional training areas, women's only workout areas, short-term child care, cycling studios, as well as other amenities and services. Fitness Connection was founded in 1999 and is based in McLean, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-25 Jimmy John’s Sandwiches

Champaign, Illinois, United States

Jimmy John's Franchise LLC is a fast-casual submarine sandwich chain with nearly 2,000 restaurants located across the United States. Jimmy John's makes fresh, fast, and tasty sandwiches using freshly baked homemade bread, freshly sliced quality meats, and locally purchased, freshly sliced veggies. Jimmy John Liautaud is the Founder and Chairman of Jimmy John's Sandwiches.

Sell -
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