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Sentinel Capital Partners acquires Captain D’s

Private equity firm Sentinel Capital Partners has acquired Captain D’s, the franchisor and operator of 530 Captain D’s restaurants in 21 US states. Terms of the transaction have not been disclosed.

The Captain D’s system consists of 227 franchised and 303 company-owned locations with established strongholds in the American Southeast and Midwest. Captain D’s is the nation’s leading restaurant operator in the underpenetrated quick service restaurant (“QSR”) seafood sector. With Captain D’s seafood menu based on ocean-caught fish and a beach-themed dining format, it is uniquely positioned in the QSR market, a sub category that has outgrown the broader restaurant industry since 2011.
 
“We are very excited to partner with Captain D’s highly-experienced and accomplished management team,” said John McCormack, a Sentinel senior partner. “Captain D’s holds a unique market position and was recently recognised as one of the top 10 brands in America for consumer loyalty. Captain D’s continues to attract younger guests and is the clear category leader. Moreover, its same-store-sales growth over the past decade is in the very top QSR tier regardless of category.”
 
Captain D’s CEO, Phil Greifeld, a 22-year QSR industry veteran who has led Captain D’s for the past seven years, commented, “Sentinel’s more than two decades of experience in the restaurant franchising sector makes the firm an ideal partner for us as we enter a new phase of expansion. We see significant opportunities to grow inside our existing footprint as well as into new regions. Our brand has never been stronger.”
 
“Captain D’s provides highly attractive and consistent unit economics for its franchise partners,” added Michael Fabian, a Sentinel partner. “This has fuelled substantial growth in new franchise sales and openings over the last several years. We look forward to partnering with Phil and his talented team to help accelerate this growth in years ahead.”

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