Deal Details

Equity Investment by Roark Capital Group

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Summary

About

Culver Franchising System, Inc. (“Culver’s” or the “Company”), recently received a minority investment from affiliates of Roark Capital Group (“Roark”). The terms of the transaction were not disclosed.

For over 30 years, Culver’s guests have been treated to cooked-to-order food made with farm-fresh ingredients, served with a smile. The ever-expanding franchise system now numbers 639 family-owned and operated restaurants in 24 states. The Company's nationally-recognized customer service is based on small-town, Midwestern values, genuine friendliness and an unwavering commitment to quality. Signature items include the award-winning ButterBurger, made from fresh, never frozen beef, and Fresh Frozen Custard, including the famous Flavor of the Day program. Culver’s is headquartered in Prairie du Sac, Wisconsin.

Roark prides itself on being a trusted financial partner for management and business owners. The firm is attracted to business environments where all stakeholders – customers, employees, franchisees, strategic partners, service providers, management and shareholders – share in the growth and success of the businesses. Roark chooses to partner with companies who share this vision. Since inception, affiliates of Roark have acquired 61 franchise / multi-unit brands which generate approximately $25 billion in system revenues from 28,000 locations located in 50 states and 78 countries. Roark's largest sector, food and restaurants, has encompassed 20 investments in brands such as: Arby’s, CKE Restaurants (the owner of Carl’s Jr and Hardee’s), Corner Bakery, FOCUS Brands (the owner of Auntie Anne’s Pretzels, Carvel Ice Cream, Cinnabon, McAlister’s Deli, Moe’s Southwest Grill, and Schlotzsky’s), Il Fornaio, Jim ‘N Nick’s Bar-B-Q, Jimmy John’s, Miller’s Ale House, Naf Naf Grill, and Wingstop. Roark is headquartered in Atlanta, Georgia.

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