For Immediate Release
Chicago (July 5, 2017) – Reconstruction Partners announces the completion of several simultaneous transactions by its client, Francesca’s Restaurant Group (FRG, Inc.), with GSI Partners, a privately-held Chicago-based holding company with related interests in the food purveying business. Reconstruction Partners provided strategic and financial counsel to FRG, Inc. before and during the process.
The transactions included the four sale and leaseback deals of certain FRG, Inc. restaurant properties and the stock sale of two other real estate properties. All will continue to operate as Francesca’s.
Scott Harris, chairman of FRG Inc., noted, “We’ve worked with several capable investment bankers and advisors over the years, but no one understood our best interests like Wallace Hite, Lee Cohn and Neil Naroff of Reconstruction Partners. They did an exceptional job facilitating what was a complex transaction.” He cited Reconstruction Partners’ deep experience in the restaurant business as a key to the smooth and positive outcome.
Hite, a founder of Reconstruction Partners, remarked, “We enjoyed working with Scott, the FRG team and the attorneys at Monroe Moxness and Berg. They’re first-class pros.”
About Francesca’s Restaurant Group, Inc.
FRG, Inc. owns and operates nineteen Francesca’s restaurants in Chicago and one in Raleigh, NC. They also own and operate five Divanti Enoteca restaurants, three in the Chicago area and two in greater San Diego, as well as Disotto, Fat Rosie’s Mexican Cantina and five Glazed and Infused Donut Shops, all in the Chicago market. For more information, see http://www.miafrancesca.com.
About Reconstruction Partners
Reconstruction Partners, Nashville and Phoenix, is full-service advisory firm focused on chain restaurants, emerging restaurant brands, troubled companies and franchising. The team has over 120 years of combined industry experience, nearly 100 of which are at the C-level. The partners consult, manage, raise capital and lead the purchase and sale of companies. For more about Reconstruction Partners visit www.reconstructionpartners.com.