Investment Summary

Madison Dearborn Partners Invests In Carrols

On March 1, 1997, private equity firm Madison Dearborn Partners invested in restaurant Carrols from BIB Holdings

Investment Highlights
  • This is Madison Dearborn Partners’ 2nd transaction in the Restaurants sector.
  • This is Madison Dearborn Partners’ 7th transaction in the United States.
  • This is Madison Dearborn Partners’ 1st transaction in New York.
Investment Fate
  • Carrols went public in 2006.
  • Carrols was sold to a financial buyer in 2009.
  • Carrols was sold to a financial buyer in 2015.
  • Carrols went public in 2023.
  • Carrols was sold to a strategic buyer in 2024 for 1.0B USD.

Investment Summary

Date 1997-03-01
Target Carrols
Sector Restaurants
Investor(s) Madison Dearborn Partners
Sellers(s) BIB Holdings
Deal Type Stake Purchase

Target

Carrols

Syracuse, New York, United States
Carrols owns and operates more than 650 restaurants under the Burger King brand. Carrols was incorporated in 1960 and is based in Syracuse, New York.

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Investor(S) 1

Investor

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 31.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.


DEAL STATS #
Overall 7 of 104
Sector: Restaurants M&A 2 of 3
Type: Stake Purchase M&A Deals 1 of 13
State: New York M&A 1 of 9
Country: United States M&A 7 of 90
Year: 1997 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1995-08-08 Peter Piper

Phoenix, Arizona, United States

Peter Piper is a pizza and entertainment restaurant chain operating 32 company-owned locations and 115 franchises in the southwestern U.S. and Mexico. Peter Piper was founded in 1973 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-08-15 Tuesday Morning

Dallas, Texas, United States

Tuesday Morning is an upscale, deep discount, off-price retailer specializing in domestic and international, designer and name-brand closeout merchandise. With stores across the country and decades of experience in closeout retailing. Tuesday Morning was founded in 1974 and is based in Dallas, Texas.

Buy -

Seller(S) 1

SELLER

BIB Holdings

Bermuda

Category Company
Founded 1987
Sector Restaurants
DESCRIPTION

BIB Holdings (Bermuda) Ltd. operates a chain of restaurants.


DEAL STATS #
Overall 1 of 1
Sector: Restaurants M&A 1 of 1
Type: Stake Purchase M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 1997 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-01-01 Carrols

Syracuse, New York, United States

Carrols owns and operates more than 650 restaurants under the Burger King brand. Carrols was incorporated in 1960 and is based in Syracuse, New York.

Buy -