M&A Deal Summary

Sycamore Partners Acquires Playa Bowls

On September 3, 2024, private equity firm Sycamore Partners acquired franchising company Playa Bowls from Tamarix Capital

Acquisition Highlights
  • This is Sycamore Partners’ 1st transaction in the Franchising sector.
  • This is Sycamore Partners’ 22nd transaction in the United States.
  • This is Sycamore Partners’ 2nd transaction in New Jersey.

M&A Deal Summary
Date 2024-09-03
Target Playa Bowls
Sector Franchising
Buyer(s) Sycamore Partners
Sellers(s) Tamarix Capital
Deal Type Secondary Buyout
Advisor(s) North Point Advisors LLC (Financial)
Skadden, Arps, Slate, Meagher & Flom
Ice Miller (Legal)

Target

Playa Bowls

Belmar, New Jersey, United States
Playa Bowls is a healthy fast-casual restaurant franchisor featuring açai bowls, smoothies and related offerings, with more than 150 franchised and corporate-owned locations. Playa Bowls was founded in 2014 and is based in Belmar, New Jersey.

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Buyer(S) 1

Buyer

Sycamore Partners

New York, New York, United States
Category Private Equity Firm
Founded 2011
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Sycamore Partners is an opportunistic and operationally focused private equity firm that targets businesses and divisions in the consumer and retail sectors. The Firm looks to partner with management teams to improve the operating profitability and strategic value of their businesses. Sycamore was formed in 2011 and is based in New York City.

DEAL STATS #
Overall 26 of 26
Sector (Franchising) 1 of 1
Type (Secondary Buyout) 4 of 4
State (New Jersey) 2 of 2
Country (United States) 22 of 22
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-28 Chico s FAS

Fort Myers, Florida, United States

Chico's FAS is a retailer focused on women older than 35. The Company’s portfolio consists of four brands: Chico’s, White House | Black Market, and Soma Intimates. The Company's brands are all specialty retailers of private label women’s apparel, accessories, and related products, which are available to customers in stores, through websites and via telephone through a call center. Chico's FAS was founded in 1983 and is based in Fort Myers, Florida.

Buy $1.0B

Seller(S) 1

SELLER

Tamarix Capital

New York, New York, United States

Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 1.0B USD
Size Small
Type Sector Agnostic
DESCRIPTION

Tamarix Capital is a lower middle-market investment firm focused on providing debt and/or equity to fund management buyouts, shareholder liquidity events, succession issues, generational changes, or growth needs. Tamarix generally pursues family-owned or closely-held businesses with $10 to $120 million in revenue. Sectors of interest include business services, industrial/niche manufacturing, consumer products and services, distribution, and healthcare services. Tamarix is based in New York City with an additional office in Chicago.

DEAL STATS #
Overall 2 of 2
Sector (Franchising) 1 of 1
Type (Secondary Buyout) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-02 Diamond Builders

Douglas, Georgia, United States

Diamond Builders is a manufacturer of prefabricated modular buildings for commercial and government end markets. Diamond Builders was founded in 2002 and is based in Douglas, Georgia.

Buy -
Mergr

Product

Company

Legal