Centerbridge Capital Partners has formed CraftWorks Restaurants & Breweries by closing on concurrent acquisitions of Rock Bottom Restaurants and Gordon Biersch Brewery Restaurant Group.
The companies will operate as subsidiaries of CraftWorks and will retain their brands.
The combined business will be an operator and franchisor of brewery and craft beer-focused casual dining restaurants with nearly 200 owned and franchised locations across the US. CraftWorks’ primary restaurant concepts include Old Chicago, Rock Bottom and Gordon Biersch.
CraftWorks is led by Frank Day and Allen Corey. Day, founder of Rock Bottom, serves as chairman of the board and brings over 45 years of restaurant experience to the newly formed company. Corey, an original investor and 13 year chief executive of Gordon Biersch, is the president and chief executive of CraftWorks and brings over 18 years of restaurant experience to the position.
Day says: “This merger marks a new era for both Rock Bottom and Gordon Biersch and I am thrilled about the growth potential that the future holds for CraftWorks.”
“Gordon Biersch, Old Chicago and Rock Bottom are differentiated casual dining concepts with strong guest loyalty, high energy atmospheres and a high quality offering of craft beer and made-from-scratch food,” adds Jason Mozingo, a managing director at Centerbridge. “We are excited by the prospect of partnering with the management teams to strengthen the long-term operating performance of the business and position it for growth."
Gordon Biersch Brewery Restaurant Group was formerly majority owned by Hancock Park Associates. Rock Bottom Restaurants was owned by Day and his investment group.
