Investment firm JPB Capital Partners has acquired a majority interest in the six-unit Mulligan’s Beach House Bar & Grill in Florida, the companies announced Monday.
Columbia, Md.-based JPB Capital said it saw expansion potential in the Stuart, Fla.-based Mulligan’s casual-dining brand. Terms of the deal were not disclosed.
“We believe the continued growth in the Florida economy as well as the outstanding food, top-notch service and unique locations will provide ample opportunities for future expansion,” said Greg Carey, JPB Capital’s managing director, in a statement.
Mulligan’s was founded in 1997 by George Hart and has full-service waterfront locations in the Florida communities of Jensen Beach, Lauderdale by the Sea, Lake Worth, Sebastian, Stuart and Vero Beach.
JPB Capital said Hart would continue as president and CEO of Mulligan’s as the company looks to expand in Florida and the Southeast.
JPB, which invests in lower-middle market consumer-related brands, in October sold its stake in The Greene Turtle of Hanover, Md., to New York-based private-equity group Stone-Goff Partners.
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