M&A Deal Summary

Joe s Crab Shack Acquires Romano s Macaroni Grill

On February 6, 2013, Joe s Crab Shack acquired restaurant Romano s Macaroni Grill from Golden Gate Capital for 55M USD

Acquisition Highlights
  • This is Joe s Crab Shack’s 1st transaction in the Restaurants sector.
  • This is Joe s Crab Shack’s largest (disclosed) transaction.
  • This is Joe s Crab Shack’s 1st transaction in the United States.
  • This is Joe s Crab Shack’s 1st transaction in Texas.
Investment Fate
  • Romano s Macaroni Grill was divested to a consortium of strategic buyers in 2015 for 8M USD.

M&A Deal Summary

Date 2013-02-06
Target Romano s Macaroni Grill
Sector Restaurants
Buyer(s) Joe s Crab Shack
Sellers(s) Golden Gate Capital
Deal Type Add-on Acquisition
Deal Value 55M USD

Target

Romano s Macaroni Grill

Houston, Texas, United States
Romano's Macaroni Grill is a casual Italian restaurant with more than 220 locations worldwide. Working in open kitchens, Macaroni Grill chefs prepare Italian classics such as Chicken Scaloppini and signature items such as Penne Rustica, as well as grilled specialties, fresh seafood, crisp salads, brick oven pizzas and numerous pasta dishes. The menu is complemented by one of the most extensive wine lists in casual dining, including house wine poured on the honor system.

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Buyer(S) 1

Buyer

Joe s Crab Shack

Houston, Texas, United States

Category Company
Founded 1991
Sector Restaurants
Revenue 492M USD (2015)
DESCRIPTION

Ignite Restaurant Group, Inc. owns and operates three restaurant businesses, Joe's Crab Shack, Romano's Macaroni Grill and Brick House Tavern+Tap.


DEAL STATS #
Overall 1 of 1
Sector (Restaurants) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-20 Romano s Macaroni Grill

Houston, Texas, United States

Romano's Macaroni Grill is a casual Italian restaurant with more than 220 locations worldwide. Working in open kitchens, Macaroni Grill chefs prepare Italian classics such as Chicken Scaloppini and signature items such as Penne Rustica, as well as grilled specialties, fresh seafood, crisp salads, brick oven pizzas and numerous pasta dishes. The menu is complemented by one of the most extensive wine lists in casual dining, including house wine poured on the honor system.

Sell $8M

Seller(S) 1

SELLER

Golden Gate Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golden Gate Capital is a large private equity firm focused on buyout and growth equity investments across a wide variety of industries. The Firm partners with management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. Sectors of interest include software and IT services, semiconductors, electronics, consumer products and retail, financial services, business services, and media. Prospective transaction types include public-to-privates, corporate extractions, bankruptcy auctions, and recapitalizations. Golden Gate Capital was formed in 2000 and is based in San Francisco, California.


DEAL STATS #
Overall 31 of 84
Sector (Restaurants) 1 of 4
Type (Add-on Acquisition) 14 of 39
State (Texas) 2 of 7
Country (United States) 28 of 76
Year (2013) 2 of 9
Size (of disclosed) 20 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-25 Pinnacle Security

Orem, Utah, United States

Pinnacle Security is a provider of residential and commercial security systems, focused primarily on direct sales. Pinnacle recruits salespeople from colleges and universities across the country, and has sales offices in major metropolitan areas throughout the United States and Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-15 Vistec Semiconductor Systems

Jena, Germany

Vistec Semiconductor Systems (formerly Leica Microsystems) is a leader in the design and manufacture of state-of-the-art quality control and defect analysis solutions and E-beam lithography systems for the semiconductor industry. Its technology is based on its heritage with Leica Microsystems and its core competencies in high-precision optics, mechanics, and software supported systems integration.

Sell -