New York – August 19, 2019 – AEA Investors’ (“AEA” or the “Firm) Middle Market Private Equity team announced today that its funds have closed the acquisition of Jack’s Family Restaurants (“Jack’s” or the “Company”). Jack’s is a leading regional quick service restaurant (“QSR”) serving Southern-inspired food across approximately 170 company-owned units in Alabama, Tennessee, Georgia, and Mississippi. Jack’s restaurants have become a cornerstone in their communities by offering a diverse mix of high-quality, value-focused menu items across all dayparts with exceptional, friendly customer service. Jack’s represents an exciting opportunity to invest in a highly-differentiated QSR concept through its unique menu and service offering with significant whitespace to expand its market share in its current states.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors (“Participants”) and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 80 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $15 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer, and services.
About Jack’s Family Restaurants
Jack’s is a leading QSR serving Southern-inspired food in approximately 170 company-owned units across Alabama, Tennessee, Georgia, and Mississippi. Jack’s serves handmade food from high-quality ingredients, such as made-from-scratch buttermilk biscuits, fresh never frozen chicken tenders and hand-dipped milkshakes. The Company has built a highly differentiated concept within QSR by offering a diverse mix of high-quality, value-focused menu items across all dayparts with exceptional, friendly customer service. Jack’s has cultivated a devoted customer base with the second highest breakfast net promotor score and top-of-mind unaided awareness in its current markets. As a result, Jack’s has been able to generate industry-leading unit economics while achieving a strong track record of growth through same-store-sales growth and successful new unit openings. Headquartered near Birmingham, AL, Jack’s employs approximately 5,500 employees across its store base and approximately 110 employees in its corporate offices.
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