New York. NY, January 31. 2007 - MidOcean Partners, a premier private equity firm with offices in New York and London, today announced that it has completed the previously announced acquisition of Sbarro, lnc., the world’s leading quick service Italian restaurant concept. The transaction is valued at approximately $450 million.
Rob Sharp, a Partner at MidOcean, said, “We are very pleased to have so efficiently completed this transaction and we are excited that this outstanding brand is new part of the MidOcean family of businesses. We look forward to our partnership with CEO Peter Beaudrault and his management team. We believe that there is significant growth potential both in the U.S. and around the world.”
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About Sbarro
Over the past live decades. Sbarro has grown into the world’s leading quick service Italian restaurant concept with approximately 1,000 locations across 34 countries and 11,000 employees. Sbarro restaurants feature a broad menu of authentic, quality Italian food prepared fresh daily, offering its customers a compelling alternative to traditional fast food. The company’s units are located in high-pedestrian-traffic locations such as shopping malls, downtown areas, airports, casinos and universities. For more information, visit www.sbarro.com.
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has managed over $4.5 billion of committed capital and has targeted investments in high-quality middle market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and manages approximately $8 billion across a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts as of November 30, 2018
MidOcean Media Relations Contacts
Nathaniel Garnick/Amanda Klein
Gasthalter & Co.
212-257-4170
midocean@gasthalter.com
MidOcean Investor Relations Contact
MidOcean Partners
IR@midoceanpartners.com