ANN ARBOR, Mich., Dec. 22, 2010 /PRNewswire/ -- Capital Growth Advisors, LLC ("CapGrow") has announced the completion of the sale of Cafe Deluxe (three existing restaurants, with one under development) and Tortilla Coast (one existing restaurant, with one under development), which are located in the greater Washington, DC area, by its founders, Bo Marcus and John Breen, to Chevy Chase, Maryland based Clover Investment Group ("Clover"). CapGrow provided financial consulting services to the sellers in the transaction. Details were undisclosed.
"Bo Marcus and John Breen created two great brands in Cafe Deluxe and Tortilla Coast," said Jim Sullivan, Sr., Managing Director of Clover Investment Group. "All of us at Clover look forward to building on the strong base the sellers created and are excited about accelerating the growth of both brands."
The founders were also pleased. "We are delighted that Jim Sullivan Sr. and his team at Clover have acquired our restaurants," said Bo Marcus, Co-founder of Cafe. "Clover is not only operationally seasoned, but they are also well capitalized and are well positioned to grow both brands. Additionally, we are appreciative of the key role CapGrow played throughout the transaction."
"The CapGrow team couldn't be happier with the results for both the sellers (our clients) and the buyers," said Reid Sherard, President/CEO of CapGrow. "We believe the buyers, Jim Sullivan and his team at Clover, will be great owners and developers of both brands."
Tortilla Coast was founded by John Breen and Bo Marcus in Washington, DC in 1988. Cafe Deluxe was founded in Washington, DC in 1995. Currently there are three existing Cafe Deluxe restaurants located in Tysons Corner, VA; Bethesda, MD; and Washington, DC with one under development in the DC area. There is one existing Tortilla Coast restaurant located in Washington, DC and one under development in the DC area. Additional information can be found at www.cafedeluxe.com and www.tortillacoast.com.
Clover Investment Group is a family-owned and operated private equity investment firm, based in Chevy Chase, MD. Clover focuses on long term investments in a variety of sectors. Additional information on Clover can be found at www.cloverinvestments.com.
Capital Growth Advisors, LLC, headquartered in Ann Arbor, Michigan, is a leading provider of fee-based financial consulting services to the multi-unit restaurant industry. Additional information on CapGrow can be found at www.capgrow.net.
SOURCE Capital Growth Advisors, LLC