Atlanta-based Roark Capital Group’s FOCUS Brands Inc. will buy Buckhead-based Moe’s Southwest Grill fast casual Mexican restaurant chain for an undisclosed price. The deal is expected to close this summer.
Roark Capital is a private equity firm. Its FOCUS Brands subsidiary specializes in buying franchises with growth potential.
FOCUS Brands is the franchisor and operator of 1,750 ice cream stores and sandwich shops in the U.S. and 33 foreign countries. Now, with the addition of Moe’s, FOCUS Brands will have five brands, including Schlotzsky’s, Carvel Ice Cream, Cinnabon and Seattle’s Best Coffee International. The five brands are expected to generate combined revenues of over $1 billion through more than 10,000 shops.
Moe’s, which stands for Musicians, Outlaws and Entertainers, was founded in 2000 by Martin Sprock and now has 345 locations in 36 states. Moe’s is part of the Raving Brands portfolio.