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  6. PPX Hospitality Brands Acquires Legal Sea Foods

M&A Deal Summary

PPX Hospitality Brands Acquires Legal Sea Foods

On December 22, 2020, PPX Hospitality Brands acquired restaurant Legal Sea Foods from Seacoast Capital

Acquisition Highlights
  • This is PPX Hospitality Brands’ 2nd transaction in the Restaurants sector.
  • This is PPX Hospitality Brands’ 2nd transaction in the United States.
  • This is PPX Hospitality Brands’ 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2020-12-22
Target Legal Sea Foods
Sector Restaurants
Buyer(s) PPX Hospitality Brands
Sellers(s) Seacoast Capital
Deal Type Add-on Acquisition

Target

Legal Sea Foods

Boston, Massachusetts, United States
Legal Sea Foods is a seafood restaurant in 6 states (and Washington, D.C.) across 8 unique restaurant concepts. The Company produces, markets and sells Legal Sea Foods branded seafood products directly to consumers via its website and at retail through select specialty retailers. Legal Sea Foods was established in 1968 and is based in Boston, Massachusetts.

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Buyer(S) 1

Buyer

PPX Hospitality Brands

Medford, Massachusetts, United States
Category Company
Founded 2020
Sector Restaurants
DESCRIPTION

PPX Hospitality Brands is a collection of restaurant and other consumer brands. PPX was formed in 2020 and is based in Medford, Massachusetts.

DEAL STATS #
Overall 2 of 2
Sector: Restaurants M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
State: Massachusetts M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-29 Strega Italiano

Boston, Massachusetts, United States

Strega Italiano is an Italian dining concept and restaurant chain. Strega Italiano is based in Boston, Massachusetts.

Buy -

Seller(S) 1

SELLER

Seacoast Capital

Danvers, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1994
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Seacoast Capital is a private investment firm that invests equity and mezzanine capital in smaller companies with revenues greater than $10 million and at least $2 million in operating income. Sectors of interest include manufacturing, distribution, business services and industrial technologies. Seacoast has a particular interest in companies located in underserved urban and rural markets, and in all cases, partners with management when considering transactions. Seacoast Capital was formed in 1994 and has offices in Danvers, Massachusetts and San Francisco, California.

DEAL STATS #
Overall 19 of 23
Sector: Restaurants M&A 1 of 1
Type: Add-on Acquisition M&A Deals 6 of 7
State: Massachusetts M&A 3 of 4
Country: United States M&A 19 of 23
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Righttime

Crofton, Maryland, United States

Righttime is a provider of urgent care services to patients with clinics as far north as Frederick, Maryland to Montgomery County, Howard County, Baltimore, Anne Arundel County, and south into Charles and St. Mary’s Counties.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Walden Behavioral Care

Waltham, Massachusetts, United States

Walden Behavioral Care operates hospitals for treating patients with eating and psychiatric disorders in Massachusetts. Walden Behavioral Care offers a full continuum of medical, behavioral, and nutritional care services for the treatment of eating disorders across inpatient, residential, partial hospitalization, and intensive outpatient care settings. Walden Behavioral Care was founded in 2003 and is based in Waltham, Massachusetts.

Sell -
Mergr

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