Boston Market announced that the company has been acquired by Engage Brands, LLC, one of the Rohan Group of Companies owned by real estate investor and restaurant operator, Jignesh Pandya. Boston Market’s former owner, Sun Capital Partners Inc., sold the Golden, Colo.-based company to Engage Brands, LLC for an undisclosed amount.
"We are very pleased to partner with Engage Brands as we embark on our next chapter of growth," said Eric Wyatt, CEO of Boston Market said in a statement. "Engage Brands brings an enthusiastic, experienced, and successful ownership group to Boston Market, as well as access to resources that we need to continue to operate our business in this challenging environment. With the strategic and financial backing Jay and his team bring, we will continue to focus on key operational initiatives to improve guest experience, menu development, and focus on the growth of our brand. We are now well-positioned to achieve future success during a period of unprecedented disruption for our industry."
The Rohan Group of Companies operates multiple franchised restaurant concepts and is a franchisee of brands including Pizza Hut and Checker’s & Rally’s.
"I am thrilled to be a part of such an iconic brand as Boston Market, a truly great American restaurant chain with a high quality and delicious menu,” Pandya said in a statement. “I look forward to working with and being a resource for the Boston Market team, preserving the jobs of our more than 5,500 team members, and helping set the brand on solid footing for the future.”
The sale follows a tumultuous time for Boston Market: in July 2019 the company shuttered 10% of its stores due to store underperformance and seven months later, former CEO Frances Allen stepped down and was replaced by former Boston Market COO Eric Wyatt, who took the helm in February.
Piper Sandler Companies provided investment banking services and Mackinac Partners, Inc. provided the business advisory and restructuring services for the transaction.
As of February, Boston Market has 400+ stores nationwide.
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