One of the nation’s largest quick-service seafood chains has been acquired.
Sun Capital Partners, a Boca Raton, Fla.-based private investment firm, on Wednesday announced that it purchased Captain D’s Seafood Kitchen from Sagittarius Brands. Terms of the deal were not disclosed.
Sagittarius Brands was formed in 2005 when Grotech Capital Group of Timonium, Md., and Charlesbank Capital Partners of Boston acquired Captain D’s from Dallas-based Lone Star Funds for a USD 150 million. In 2006, Sagittarius Brands bought Del Taco, a quick-service Mexican chain, which is not included in the transaction.
In a statement, David Head, president and CEO of Captain D’s, expressed enthusiasm about joining Sun Capital’s growing portfolio of restaurants, which includes Boston Market, Bruegger’s, Fazoli’s, Friendly’s, Garden Fresh, Smokey Bones Barbeque & Grill and Souper Salad.
“With Sun Capital’s support, we will continue to focus on several key improvement initiatives, while staying true to our overall objective of serving our loyal customers a high quality, cooked-to-order seafood meal at a good value,” he said. “We look forward to working with the Sun Capital team and benefiting from their deep operating experience in quick-service and fast casual-restaurants.”
Based in Nashville, Tenn., Captain D’s, which was founded in Donelson, Tenn., in 1969, now operates about 539 restaurants in 25 states and a few military bases overseas.
Captain D’s bills itself as a fast-casual chain, which usually has a higher price point than fast-food chains, and markets its seafood menu items as a healthier alternative to traditional fast-food options. Wild salmon, tilapia, catfish, pollock and shrimp are among the species Captain D’s offers.
Captain D’s main competitor is Long John Silver’s, but it is also trying to siphon customers from Red Lobster, the nation’s largest casual seafood chain, through the slogan “sit-down food at fast-food prices.”
All Fooservice & Retail stories >