Private-equity fund Tamarix Equity Partners and investment firm Pacific General Holdings on Monday announced a strategic investment in the açai bowl and smoothie concept Playa Bowls LLC.
Terms were not disclosed, and Playa Bowls officials did not immediately respond to questions about the investment. The New Jersey-based concept with a surfing theme was founded in Belmar, N.J. and now has more than 126 locations nationwide, most of which are franchised.
Playa Bowls was founded by Robert Giuliani and Abby Taylor, long-time surfers whose travels introduced them to açai or pitaya bowls. The decided to create their own version for the Jersey Shore.
“We are delighted to be partnering with Tamarix and Pacific General to fuel our growth,” said Giuliani, Playa Bowls’ CEO, in a statement. “Their operating skills and financial acumen will help Playa Bowls execute our exciting growth plan and attract more franchisees over the coming years.”
Tamarix is a New York-based private equity firm managed by Mark Hauser and Gary Matthews, focused on investing in lower middle market businesses. Pacific General Holdings, with offices in New York and Seoul, focuses on assisting U.S.-based businesses to expand international markets to Asia and the Middle East.
Contact Lisa Jennings at [email protected]
Follow her on Twitter: @livetodineout