Perpetual Capital Partners And CR3 Capital Acquire Souplantation and Sweet Tomatoes parent Garden Fresh Restaurants
Purchase marks new start for resurgent fresh soup, salad and bakery specialists.
San Diego, CA (August 7, 2017) – Garden Fresh Restaurants, parent of Souplantation and Sweet Tomatoes, announced today that Perpetual Capital Partners and CR3 Capital, an investment affiliate of CR3 Partners, has acquired the 97-unit soup, salad, and bakery restaurant chain. Terms of the deal were not disclosed.
“Souplantation and Sweet Tomatoes are uniquely positioned with an extremely loyal customer base and dedicated restaurant teams,” said Gene Baldwin, Garden Fresh Restaurants interim CEO and partner at CR3 Partners. “This creates new opportunities for all of our employees, guests and business partners as we move forward.”
The acquisition follows the company’s resurgence out of bankruptcy earlier this year, and provides a long-term ownership base for the company. CR3 Partners led the restructuring and has been managing the company for several months.
About Garden Fresh Restaurants
Garden Fresh Restaurants, operator of 97 restaurants in 9 states, serves more than 20 million guests each year and is known for its 50-ft. salad bar, made from scratch soups, hot pastas, freshly baked breads, muffins and desserts. Guests have the freedom to create their own wholesome meal in a one-of-a kind dining experience in a family friendly atmosphere at an everyday value. The company is based in San Diego, CA and operates under two brand names: Souplantation in Southern California and Sweet Tomatoes elsewhere. For more information, visit www.souplantation.com or www.sweettomatoes.com.
About Perpetual Capital Partners
Perpetual Capital Partners is a private company that invests in, acquires, owns and operates middle market businesses. The firm is a long-term investor that employs a collaborative and proactive investment approach, providing capital, corporate and strategic resources to help companies create value and achieve long-term sustainable growth. The Perpetual Capital Partners team has extensive experience with private investing, acquisitions, transition management, corporate finance, strategic and capital planning, marketing, business development and accelerating corporate growth. Perpetual Capital Partners is based in greater Washington, D.C. For more information, visit www.PerpetualCapitalPartners.com.
About CR3 Capital
CR3 Capital, LLC is an operationally-focused private equity firm that invests in North American middle market companies. CR3 focuses on identifying and investing in businesses that are experiencing unique operational or financial challenges. By gaining a deep understanding of its portfolio companies and their products, the firm leverages core operational turnaround strengths and experience to increase customer satisfaction and improve operations.
Garden Fresh: Rick Van Warner, 407-256-5865