Atlantic Street Capital Management LLC, a private equity firm out of Stamford, Conn., said Tuesday that it has acquired The Sandwich Shop Holdings Co., a 23-unit Jimmy John’s franchisee in the Chicago area.
The Sandwich Shop Holdings Co. is one of the largest franchisees of the fast-growing sub chain in the U.S.
“We are very excited to be investing to help grow the Jimmy John’s brand,” Andy Wilkins, managing partner at Atlantic Street Capital, said in a statement. “The simplicity, timelessness and reasonable price points of Jimmy John’s sub sandwiches results in a concept that works in any market and across socio-economic demographics.”
Faisal Ghani, founder of The Sandwich Shop Holdings Co, will serve as the franchisee’s CEO. The operator is based in Chicago.
The deal was done to enable the franchisee for the “next level of growth,” the equity firm said.
“Atlantic Street Capital has the financial and operational resources to help us grow the company beyond the Midwest,” Ghani said in a statement. “Importantly, they understand and share our passion for the Jimmy John’s philosophy, whose fresh ingredients and customer value serve as the cornerstone for our success. We look forward to having them as partners in our growth.”
Private equity groups have had a growing influence on franchising, not just through their acquisitions of franchisors but also their rapidly growing acquisitions of franchisee concepts.
Private equity groups have been investing in and buying large-scale operators, funding their growth and promoting more acquisitions.
Contact Jonathan Maze at [email protected]
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