CIC Partners has made a growth equity investment in fast casual sandwich shop operator East Hampton Sandwich Co. Fast casual restaurants, including sandwich chains, have been receiving robust private equity interest. Roark Capital backed Jimmy John's Sandwiches in 2016.
East Hampton was founded in 2012 and is based in Dallas. The target, which is known for items such as lobster grilled cheese, operates in eight locations in Texas and is planning on adding at least two more by year's end. "East Hampton has clearly done a great job tapping into what consumers want today, and we look forward to supporting the significant expansion that lies ahead," says CIC partner Fouad Bashour.
CIC is a Dallas-based middle-market PE firm that invests at least $5 million in companies that have up to $50 million in Ebitda. The firm has invested in the restaurant sector before including: Granite City Food & Brewery, Taco Mac and Willie's Grill & Icehouse.
In other fast causal restaurant deals, the Cheese Factory Inc. (Nasdaq: CAKE) purchased a minority stake in Flower Child; Curry Up Now has acquired rival Tava Kitchen; and General Atlantic has acquired a minority stake in Torchy’s Tacos.