Barnett Takes Helm at Shrimp Basket - Regional Chain Prepares for Growth

GULF SHORES, Ala., Jan. 24, 2017 /PRNewswire/ -- Shrimp Basket Restaurants announced it has named Scott Barnett as its Chief Executive Officer, effective January 16, 2017. Mr. Barnett will become only the second CEO at Shrimp Basket, succeeding Eddie Spence who founded the company in 1993. Mr. Spence will continue to serve on the board and be actively involved in the company.

"I am very pleased that Scott will be the next CEO of Shrimp Basket," said Spence. "He has the right experience and values to lead the business into the future – building upon his excellent track record in the seafood category and his years of leadership experience."

Mr. Barnett is an industry veteran having served as a founder and CEO of Bubba Gump Shrimp Co. Restaurants, Inc. The business flourished under Scott's leadership from its inception and grew to an international company with over 35 restaurants. After the chain sold in 2010, Scott worked as a senior advisor with a merchant banking firm focused on the food service industry. He also consulted with a number of high profile restaurant companies providing expertise in branding, concept development, and operations.

"Scott has a strong track record growing the best restaurant brands in the industry," said Tom Carver, Managing Partner of Harren Equity Partners, a private equity firm that has a majority investment in Shrimp Basket. "He is the ideal person to lead the growth plan for Shrimp Basket and we could not be more excited about Scott's decision to partner with us. Under his leadership, Shrimp Basket will prudently expand to more locations across the country while maintaining its reputation for terrific food and exceptional service."

"I am thrilled and honored to lead Shrimp Basket," said Scott Barnett. "The founder has developed a great concept and built restaurants enjoyed by millions. I hope to ensure that our customers continue to enjoy the high-quality food and service they've come to expect from Shrimp Basket."

The search to identify Scott Barnett was led by Spectrum Search Partners, a Denver-based firm that specializes in serving the Private Equity community.

About Shrimp Basket:
Founded in 1993, Shrimp Basket is a full-service seafood-focused restaurant chain with 25 locations across Alabama, Florida, and Mississippi. Shrimp Basket offers a comfortable, casual family-friendly atmosphere with an affordable price point. In addition to serving grilled, steamed, and fried seafood, Shrimp Basket also offers burgers, chicken, pasta, sandwiches, and sides – as well as a full bar at every location. The company has never closed a location in their entire 23-year history. All stores are company-owned. For additional information, please visit www.shrimpbasket.com.

About Harren Equity Partners LLC:
Headquartered in Charlottesville, Virginia with a second office in Fort Lauderdale, Florida, Harren is a private equity firm dedicated to the growth and development of industry-leading consumer-facing companies through the creation of strong partnerships with outstanding management teams. Harren's unique approach focuses on operational excellence and insightful strategic analysis, rather than financial engineering. In addition, Harren formed a strategic partnership in 2011 with Tim Petrillo, President and Co-Founder of The Restaurant People, to invest in leading restaurant chains focused on expansion. Please visit www.harrenequity.com for more details.

SOURCE Shrimp Basket

Related Links

http://www.shrimpbasket.com