Jimmy John’s Sandwiches adds big name investor.
Jimmy John’s Sandwiches has new investors after two years of looking. According to a recent Nation’s Restaurant News article, Roark Capital Group adds Jimmy John’s to its growing list of restaurants with a majority stake in the sandwich chain.
While the terms of the agreement have not yet been released, Jimmy John Liautaud will remain as chairman while James North will continue as president and CEO.
“I’ve spent two years getting to know the Roark team. They are best-in-class people that have the knowledge and expertise that will help us take this brand to the next level,” explained Liautaud in a statement.
Jimmy John’s now has over 2,500 locations and has been one of the fastest growing chains in the country. According to Nation’s Restaurant News Top 100 data, the sandwich chain is the 35th largest restaurant concept in the U.S and is set to open 1,000 units over the next several years.
“Jimmy has built an amazing business with unlimited potential,” said Neal Aronson, managing partner of Roark Capital. “It’s a testament to his vision, commitment to quality, and the team’s outstanding execution.”
The impressive Roark Capital portfolio includes new acquisitions including CKE Restaurants, Arby’s, and the early-stage growth chain Naf Naf Grill, and will have acquired a total of $23 billion in annual system sales once the Jimmy John’s deal goes through.
Click here to read the full article.