Quick-service seafood chain Captain D’s bought by equity firm

Published on
December 19, 2017

Private equity firm Sentinel Capital Partners announced its acquisition of U.S. seafood restaurant chain Captain D’s on Monday, 18 December for an undisclosed amount.

Nashville, Tennessee-based Captain D’s, which operates 530 restaurants in 26 U.S. states, has realized same-store sales growth for six connective years. The restaurant chain has been owned by private equity firm Centre Partners since 2013.

"We are very excited to partner with Captain D's highly-experienced and accomplished management team," said John McCormack, a Sentinel senior partner. "Captain D's holds a unique market position and was recently recognized as one of the top 10 brands in America for consumer loyalty. Captain D's continues to attract younger guests and is the clear category leader.”

Sentinel, which has also invested in TGI Friday’s, Checkers/Rally’s, Border Foods, and other restaurant operators and franchises, said that Captain D’s seafood menu is “uniquely positioned in the QSR [quick-service restaurant] market, a sub-category that has outgrown the broader restaurant industry since 2011.”

"Sentinel's more than two decades of experience in the restaurant franchising sector makes the firm an ideal partner for us as we enter a new phase of expansion,” Captain D’s CEO Phil Greifeld said. “We see significant opportunities to grow inside our existing footprint, as well as into new regions. Our brand has never been stronger.”

Captain D’s provides “Highly attractive and consistent unit economics for its franchise partners," added Michael Fabian, a Sentinel partner. 

"This has fueled substantial growth in new franchise sales and openings over the last several years,” Fabian said. “We look forward to partnering with Phil and his talented team to help accelerate this growth in years ahead.”

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