World News: 12:45 GMT Tuesday 3rd December 2019. [Capitala Group via Globe Newswire via SPi World News]
CHARLOTTE, N.C., Dec. 03, 2019 (GLOBE NEWSWIRE) -- , a provider of capital to lower middle market companies, is pleased to announce its successful exit from its investment in Fresh Dining Concepts, an operator of Auntie Anne’s, Cinnabon and Carvel restaurants.
Headquartered in Miami, Florida, Fresh Dining Concepts is an Auntie Anne’s Inc. franchisee that operates 49 in-line stores, baking kiosks, and satellite retail units. The Company is the third largest franchisee in the Auntie Anne’s system and operates stores in New York, Pennsylvania, New Jersey, Connecticut, Florida, Louisiana, and Puerto Rico.
“I enjoyed working with the team from Capitala Group and found them to be very valuable business partners,” stated Luis San Miguel, President and CEO of Fresh Dining Concepts. “I especially appreciated their insights on ways to address the challenges presented by our growth trajectory and their continued support for me and my management team.”
Adam Richeson, Managing Director of Capitala Group, added, “Luis and his team have done an incredible job of building a great business. They have truly developed into the premier operator in the Auntie Anne’s system and were key to executing on such rapid growth.”
K&L Gates LLP and Dixon Hughes Goodman LLP acted as advisors to both Capitala Group and Fresh Dining Concepts.
Capitala Group first invested in Fresh Dining Concepts in August 2015 and provided necessary capital and insights to advance Fresh Dining to the next phase of growth.
Steve ArnallCFO | COO
Katina Cole Jakubowski Director of Marketing
SOURCE: Capitala Finance Corp.
Globe Newswire: 12:45 GMT Tuesday 3rd December 2019
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