Capital Growth Advisors has completed the sale of Washington DC based Cafe Deluxe and Tortilla Coast by its founders, Bo Marcus and John Breen, to Maryland based Clover Investment Group.
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," says 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."
"We are delighted that Jim Sullivan Sr. and his team at Clover have acquired our restaurants," says Marcus. "Clover is not only operationally seasoned, but they are also well capitalised 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," adds Reid Sherard, president/chief executive of CapGrow. "We believe the buyers, Jim Sullivan and his team at Clover, will be great owners and developers of both brands."
