Brentwood Sells Pizza Hut Franchisee
There was at least one more franchisee deal to be made in 2012. Brentwood Associates, the Los Angeles-based private equity firm, has sold its 80-unit Pizza Hut franchisee based in Hawaii, Pacific Island Restaurants, to Nimes Capital. Terms of the deal were not disclosed.
Pacific Island Restaurants was founded in 1971 when Pizza Hut first moved to Hawaii. The company now operates Pizza Hut and Taco Bell units in Hawaii, Guam and Saipan. Brentwood bought the company in 2004, and since then expanded the operation by 12 locations and also started "one of the most successful call centers in the Pizza Hut system." Brentwood called its 8-year ownership of the franchisee "a very successful investment."
"The PIR management team under Henry Katsuda's leadership has done a tremendous job executing on the company's growth initiatives," Brentwood Partner Anthony Choe said in a statement. "We are confident the company will continue to thrive under new ownership." Katsuda is PIR's CEO. He praised Brentwood in a statement and said that, "We feel very well positioned for the future."
Nimes is is the Los Angeles-based private investment arm of Nazarian Enterprises. It specializes in companies in "high value asset classes with strong management teams in businesses with higher barriers to entry." Among its restaurant holdings: Unami Burger, a burger chain based in Costa Mesa, California. Nimes has invested in numerous businesses, including technology, manufacturing and real estate. Nazarian Enterprises was a lead, early-stage investor in Qualcomm.