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Private-equity firm Centre Partners buys Captain D's again.

Centre Partners buys Captain D’s again

Private-equity firm had sold stake in quick-service seafood brand in 2017

Private-equity firm Centre Partners has completed its acquisition of Captain D's seafood again, the company announced Monday.

Terms of the deal were not disclosed. New York-based Centre Partners had sold the Nashville, Tenn.-based brand to Sentinel Capital Partners in 2017.

Captain D’s, founded in 1969, has more than 500 seafood-focused quick-service restaurants across the United States.

Centre Partners said it was partnering with Phil Greifeld, Captain D’s CEO, to re-acquire the chain. It had initial acquired the brand in 2013.

“The Captain D's management team has invested alongside Centre Partners and will continue to serve in their current roles,” the company said Monday.

Bruce Pollack, managing partner of Centre Partners, said in a statement: "We are excited to have the opportunity to partner with Phil Greifeld and this experienced executive team once again. With its differentiated menu of craveable seafood, Captain D's provides a unique value proposition to its customers.”

Greifeld added: "We are proud to welcome Centre Partners back to the company and continue our growth story with their support. … We continue to improve the customer experience with new menu offerings; streamlined digital, drive-thru and delivery options; and an expanding geographic footprint. We are excited to build upon these initiatives with Centre Partners."

Captain D’s owns, operates and franchises restaurants that focus on affordable seafood, and the menu features fish, shrimp and chicken as well as hushpuppies, desserts and Southern-style sweet tea.

Contact Ron Ruggless at [email protected]

Follow him on Twitter: @RonRuggless

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