Sun Capital Partners Inc. is putting Captain D’s LLC up for sale, according to a report from Dow Jones.
The report, which came out on Monday, didn’t specify a buyer for the Nashville, Tenn.-based brand. However, Dow Jones noted that North Point Advisors has been appointed to help with the sale.
and Sun Capital executives were not immediately available to comment on the possible sale.
Private-equity firm Sun Capital Partners had purchased the quick-service chain in 2010.
During the past couple of years under Sun Capital’s ownership, Captain D’s Seafood Kitchen staged a turnaround, refreshing its restaurant design and upgrading its menu. The company reported its first same-store sales increase in eight years in 2011, and in fiscal 2012, same-store sales increased 9.2 percent at company-owned restaurants and 7.5 percent for franchised restaurants — a record for the brand.
Captain D’s named a new chief operating officer, Jim Stevens, and chief development officer, Michael Arrowsmith, in March. At the time of the hires, Captain D’s chief executive Phil Greifeld said, “The D’s brand is thriving. Our positive momentum continues to build.”
Greifeld also said in March that the brand, which had halted franchise growth during the economic downturn, was actively seeking new franchisees in 2013.
Sun Capital owns several other restaurant chains, including Smokey Bones Bar & Fire Grill, and Bar Louie.
The firm said Monday that it had acquired burger chain Johnny Rockets, a deal on which North Point Advisors aided, as well.
Captain D’s has about 520 locations systemwide.
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