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  6. Pappas Restaurants Acquires Luther s Bar-B-Q

M&A Deal Summary

Pappas Restaurants Acquires Luther s Bar-B-Q

On May 6, 2006, Pappas Restaurants acquired restaurant Luther s Bar-B-Q from Castle Harlan

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

M&A Deal Summary
Date 2006-05-06
Target Luther s Bar-B-Q
Sector Restaurants
Buyer(s) Pappas Restaurants
Sellers(s) Castle Harlan
Deal Type Add-on Acquisition

Target

Luther s Bar-B-Q

Houston, Texas, United States
Luther's Bar-B-Q, Inc. Operator of 20 family-oriented restaurants located in the major metropolitan areas of Houston, New Orleans and Denver.

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Buyer(S) 1

Buyer

Pappas Restaurants

Houston, Texas, United States
Category Company
Founded 1967
Sector Restaurants
DESCRIPTION

Pappas Restaurants, Inc. owns and operates a chain of restaurants in the United States.

DEAL STATS #
Overall 1 of 1
Sector: Restaurants M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2006 M&A 1 of 1

Seller(S) 1

SELLER

Castle Harlan

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Castle Harlan is a large private equity firm that targets private company investments in the US and Australia. Castle Harlan targets businesses in a wide range of industries that include, packaging, industrial services, manufacturing, restaurants, business services, distribution, publishing, and transportation. Castle Harlan can provide both equity and mezzanine capital. The Firm is affiliated with Australian private equity firm CHAMP Private Equity, and together formed CHAMP - Castle Harlan Australian Mezzanine Partners. Castle Harlan was formed in 1987 and is based in New York City.

DEAL STATS #
Overall 17 of 38
Sector: Restaurants M&A 3 of 6
Type: Add-on Acquisition M&A Deals 8 of 17
State: Texas M&A 3 of 5
Country: United States M&A 13 of 30
Year: 2006 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-03 Marie Callender s Restaurant & Bakery

Mission Viejo, California, United States

Marie Callender's Restaurant & Bakery serves casual dining chain committed to serving freshly prepared foods made with high quality ingredients and featuring a variety of classic yet updated American foods.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-05 Bravo Brio

Columbus, Ohio, United States

Bravo Brio is a restaurant company featuring two rapidly growing, category defining brands in the upscale casual Italian dining segment: Bravo Cucina Italiana and Brio Tuscan Grille. Bravo Brio was founded in 1987 and is based in Columbus, Ohio.

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