New York-based private equity firm, Sentinel Capital Partners has announced the closing of its acquisition of Newk’s Holding Company, LLC, owner and operator of the Newk’s Eatery restaurant franchise. Terms of the purchase agreement were not disclosed. Newk’s Eatery is a rapidly growing fast casual concept with a diverse menu of high quality, made-from-scratch sandwiches, soups, salads and pizzas. The Newk’s chain consists of 67 restaurants located in the Southeast. “We are very pleased to be partnering with Newk’s strong leadership team who are pioneers in the fast casual dining market,” said James Coady, a Sentinel partner, adding that the chain is well positioned for accelerating its growth. Chris Newcomb, CEO and co-founder of Newk’s Eatery, commented, “Sentinel is a perfect strategic partner whose deep experience and success in supporting high growth restaurant and franchising businesses will allow Newk’s to realize its full potential.” The acquisition of Newk’s Eatery adds to Sentinel’s extensive franchising experience. Since its inception, Sentinel has completed eight similar transactions.
Sentinel Capital Partners - 330 Madison Ave., 27th Floor, New York, New York 10017 (212/688-3100 info@sentinelpartners.com)
Newk’s Holding Company LLC - 2680 Crane Ridge Dr., Jackson, Mississippi 39216 (601/982-1160 inquiries@newks.com)