June 2008
Taylors, South Carolina (June, 2008) – Cafe Enterprises, Inc. d/b/a Fatz Cafe (www.fatzcafe.com) is pleased to announce that its management, led by CEO Steve Bruce, has completed a recapitalization in partnership with Milestone Partners. Bill Burton, the previous majority shareholder of the company, has retired from his role as Chairman, but will remain a minority shareholder and Board member going forward. Cafe Enterprises, Inc. was advised by investment banking firm Hadley Partners, Incorporated.
Headquartered in Greenville, SC, Fatz Cafe operates 43 company-owned full-service casual dining restaurants in North Carolina, South Carolina, Tennessee, Georgia and Virginia. Fatz Cafe is renowned for creating exceptional value for its guests with great food, friendly and efficient service, and a welcoming atmosphere, “Where Everyone’s a Regular.” Its defining principles have enhanced the Fatz Cafe brand and propelled the company from a hometown favorite to an expanding regional player.
Regarding the transaction, Mr. Bruce commented “we originally set out to find a financial partner that shared our enthusiasm for the Fatz concept and who could contribute to our vision of continued growth; we turned to Hadley Partners to assist us in finding such partner. The breadth of their network, their utmost professionalism, and their negotiating acumen made Hadley Partners an invaluable resource throughout this effort.” Pedro Garcia of Hadley Partners added, “Fatz Cafe has the benefit of a dynamic brand and a great leadership team, which led to significant interest from the investment community. We are pleased to have had the opportunity to work with another great company and wish the Fatz team continued success in the future.”
For more information on this transaction please contact:
David Hadley
(310) 640-7090 hadley@hadleypartners.com
About Hadley Partners, Inc. (www.hadleypartners.com)
Founded in 1999, Hadley Partners, Incorporated always seeks to provide the highest-quality merger & acquisition advisory, private placement and financial advisory services. We have a world-class team of veteran bankers that bring Wall Street experience to middle-market and emerging growth companies. Our goal is to develop relationships of trust with the leaders of these companies and with investors that pursue investment opportunities in such companies. We provide our services in a fair and flexible manner, and we always put our clients’ interests first. Hadley Partners, Incorporated is a registered broker-dealer, and a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.
About Fatz Cafe (www.fatzcafe.com)
Fatz Cafe opened its first restaurant in a converted roadside fruit stand in 1988 in Spartanburg, South Carolina and has grown into a full-service casual restaurant chain located in North Carolina, South Carolina, Georgia, Tennessee, and Virginia. As of June 2008, Fatz Cafe operates 43 restaurants. The Fatz Cafe goal: provide great-quality, classic American cuisine in an upbeat, comfortable atmosphere at a good value. At Fatz Cafe, there are 2 rules: (a) Regulars Treated Special and (b) Everyone’s a Regular!
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