Roark Capital Group Acquires a Majority Interest in Pike Family Nurseries

-- The Pike family remains active as an important minority shareholder --

-- Randy Pike promoted to President and Chief Executive Officer --

-- William 'Pete' Pike, Gary Pike, and Dana Pike retain prominent leadership

roles --

Apr 30, 2004, 01:00 ET from Roark Capital Group

    ATLANTA, April 30 /PRNewswire/ -- Roark Capital Group, an Atlanta-based
 private equity firm, today announced it has acquired a majority interest in
 Pike Family Nurseries, the largest independent lawn and garden center in the
 Southeast and the third largest in the United States.  Founded in 1958, Pike
 Family Nurseries is a well-respected Atlanta institution with 26 locations in
 and around the Atlanta metro area.
     "The Pike family has built the most recognized brand name in the fast-
 growing lawn and garden industry," commented Neal Aronson, managing partner
 and founder of Roark Capital Group.  "With our investment, we are rallying
 behind Randy Pike to grow the store base and extend the Pike experience to new
     "Roark Capital is the perfect partner for Pike Family Nurseries," said
 Randy Pike, CEO of company.  "The Roark team is unique -- they understand and
 appreciate the essence of our brand, the loyalty of our customers, and the
 solid growth opportunities available to us.  We've invited them into the Pike
 family and are excited to access their financial and operational expertise."
     "Gardening is the number one leisure activity in the country.  It is fun
 and adds value to your property -- a 'win-win' for Pike and the consumer,"
 commented Shawn Welch, lead partner at Roark Capital Group for the Pike
 relationship.  "We see a great opportunity for Pike to continue playing a
 major role in the niche between 'big box' retailers and 'mom and pop' lawn and
 garden specialty stores."
     "I am excited to partner with Roark Capital Group," added William "Pete"
 Pike, founder of Pike Family Nurseries.  "Our loyal employees, customers and
 suppliers can rest assured that Pike Family Nurseries will continue to provide
 the highest quality products and services as we have for two generations."
     Pike is Roark Capital's fourth acquisition of a multi-unit business and
 its third acquisition of an Atlanta based company.  In 2003, Roark Capital
 acquired FASTSIGNS Inc., the leading franchisor in the quick service sign
 industry as well as Money Mailer LLC, the nation's second largest shared mail
 advertising company with more than 250 franchisees.  Roark Capital also owns
 Carvel Corporation, the leading manufacturer of branded ice cream cakes in the
 United States and a top producer of premium soft-serve ice cream with over 425
 franchised and foodservice locations and 6,500 supermarket outlets.
     Specific terms of the deal were not disclosed.
     About Pike Family Nurseries
     Founded in 1958 by Mr. William "Pete" Pike, Pike Family Nurseries is the
 largest independent nursery in the Southeast and third largest in the U.S.
 Pike specializes in the highest quality plants, trees, shrubs, groundcovers,
 annuals, perennials, planting material and landscape products. Pike is known
 for its excellent customer service and friendly, knowledgeable staff. For more
 information about Pike Family Nurseries, please visit .
     About Roark Capital Group
     Roark Capital Group is an Atlanta-based private equity firm that acquires
 majority stakes in franchise, packaging, niche manufacturing, consumer
 products and service businesses. The firm specializes in transactions with
 enterprise values of $25-$250 million and targets family-owned businesses,
 divisions of larger companies or portfolio companies of private equity firms,
 and going-private transactions of micro-cap public companies.  For more
 information about Roark Capital Group, please visit .
      Contact:  Barbie Pressly
                The Inside Pitch
                (404) 386-7989

SOURCE Roark Capital Group