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Brentwood Associates sells Pacific Island Restaurants

Consumer-focused private equity investment firm Brentwood Associates has completed the sale of Pacific Island Restaurants (PIR) to Nimes Capital.

PIR is the sole franchisee of Pizza Hut and Taco Bell throughout Hawaii, Guam and Saipan. Terms of the transaction have not been disclosed.

Since acquiring PIR in 2004, Brentwood has worked with the PIR management team to help them build on their market positions in both brands. The company implemented one of the most successful call centres in the Pizza Hut system, while also opening six new restaurants and acquiring six restaurants.

Anthony Choe, partner at Brentwood, says: "The PIR management team under Henry Katsuda's leadership has done a tremendous job executing on the company's growth initiatives.  We are confident the company will continue to thrive under new ownership."

Henry Katsuda, chief executive of PIR, says: "Brentwood has been an extremely supportive partner, providing us with the resources necessary for us to continue to build upon our success. We feel very well positioned for the future ahead with our new partners at Nimes."

The exit of PIR marks the latest in what has been an active year for Brentwood. The firm has successfully exited three other investments in 2012: Array Marketing Group, Filson Holdings and Ariat International. In addition, Brentwood also acquired two high-growth, multi-channel lifestyle brands – Soft Surroundings and Sundance.

Harris Williams & Co acted as the exclusive adviser to PIR.


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