Fast-casual modern Mediterranean concept is new private-equity firm’s inaugural investment
Private-equity firm BroadPeak Capital has bought Rōti Modern Mediterranean grill in bankruptcy deals, the company said.
Chicago-based Roti Modern, which filed for bankruptcy protection in August, was acquired by the new Atlanta-based equity firm created by Tariq Farid, founder the Edible Arrangements chain, and Aseem Khatri, a veteran of BlackRock Inc., an investment company.
BroadPeak, which made Rōti its inaugural investment, plans to add the restaurant brand to the Atlanta-based Edible Brands platform, led by CEO Somia Farid Silber.
"Revitalizing Rōti is a full-circle moment for me," Farid, partner and CEO of BroadPeak Capital, said in a statement. "Like Edible Arrangements, Rōti presents nourishment, tradition, and connection. With the support of our firm's deep franchise expertise and alignment with Rōti's brand values, we're confident in our ability to transform Rōti into a Mediterranean fast-casual dining leader."
Farid envisions Rōti as a brand that not only celebrates the vibrant flavors of the Mediterranean but also incorporates influences from South Asian and Pacific cuisines, a nod to his family's own heritage.
"I started my entrepreneurial journey with Edible Arrangements in 1999 with one 500-square-foot store that quickly grew to hundreds of franchise locations globally," Farid said. "Today, I see an incredible opportunity to replicate that success with Rōti.”
The sell side team consisted of Ravinia Capital LLC as investment bank; Richman and Richman as bankruptcy counsel; Much Shelist P.C. as corporate counsel; and Harney Partners as restructuring adviser.
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