M&A Deal Summary

Goldman Sachs Merchant Banking Acquires Zaxby s Franchising

On November 18, 2020, private equity firm Goldman Sachs Merchant Banking acquired restaurant Zaxby s Franchising

Acquisition Highlights
  • This is Goldman Sachs Merchant Banking’s 3rd transaction in the Restaurants sector.
  • This is Goldman Sachs Merchant Banking’s 119th transaction in the United States.
  • This is Goldman Sachs Merchant Banking’s 5th transaction in Georgia.

M&A Deal Summary
Date 2020-11-18
Target Zaxby s Franchising
Sector Restaurants
Buyer(s) Goldman Sachs Merchant Banking
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Morgan Stanley
Stephens Investment Banking (Financial)
King & Spalding
Fortson, Bentley and Griffin (Legal)

Target

Zaxby s Franchising

Athens, Georgia, United States
Zaxby's, the fast-casual chain known for its chicken fingers, wings, and signature sauces, operates primarily in the Southeastern United States, with more than 900 restaurants in 17 states. Zaxby's has delivered industry-leading comparable sales performance for three consecutive years, and there is unprecedented demand from franchisees to grow.

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Buyer(S) 1

Buyer

Goldman Sachs Merchant Banking

New York, New York, United States
Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 167 of 183
Sector (Restaurants) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 32 of 33
State (Georgia) 5 of 5
Country (United States) 119 of 127
Year (2020) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-22 Information Builders

New York, New York, United States

Information Builders is a provider of solutions for business intelligence (BI), analytics, data integration, and data quality that help drive performance improvements, innovation, and value. Information Builders was established in 1975 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-19 Stackline

Seattle, Washington, United States

Stackline is an all-in-one e-commerce platform for brands and retailers. By combining market intelligence, advertising automation, workflow management, and operational analytics into a single platform, Stackline delivers the industry-leading operating system for companies to scale their online retail business globally. Stackline was founded in 2014 and headquartered in Seattle with additional offices in Minneapolis and London.

Buy -
Mergr

Product

Company

Legal