A private-equity firm that that has aggressively expanded its restaurant holdings in recent years has purchased several seafood restaurants across the Miami Valley.
The purchase by New York City-based Sentinel Capital Partners will add Captain D’s Seafood Kitchens to a portfolio that also includes TGI Friday’s and Fazoli’s, among others.
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The Captain D’s system operates 227 franchised and 303 company-owned restaurants in 21 states, mostly in the Southeast and Midwest.
There are nine Captain D’s Seafood Kitchen restaurants in west-central and southwest Ohio: in Kettering, Huber Heights, Middletown, Greenville, Fairfield, Wapakoneta, Cincinnati and two in Lima.
“Captain D’s holds a unique market position and was recently recognized as one of the top 10 brands in America for consumer loyalty,” John McCormack, a Sentinel Capital Partners senior partner, said in a release. “Captain D’s continues to attract younger guests and is the clear category leader.”
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Captain D’s CEO, Phil Greifeld, who has led Captain D’s for the last seven years, said in a release, “Sentinel’s more than two decades of experience in the restaurant franchising sector makes the firm an ideal partner for us as we enter a new phase of expansion. We see significant opportunities to grow inside our existing footprint as well as into new regions. Our brand has never been stronger.”
The purchase price and other terms of the deal were not disclosed. Captain D’s had been owned by Centre Partners Management LLC.
Sentinel Capital Partners’ TGI Fridays chain shut down two of its three Dayton-area restaurants — in Huber Heights and at the Dayton Mall — in early September. The TGI Fridays at the Mall at Fairfield Commons remains open.
In 2016, Captain D’s had $543.6 million in sales, up by 2.2 percent from the previous year, and it opened a net six locations, according to Nation’s Restaurant News.