Investment groups Sentinel Capital Partners and TriArtisan Capital Partners are buying TGI Fridays from Carlson, which has owned the franchise since 1975.
TGI Fridays, headquartered in New York, operates casual dining restaurants TGI Fridays, Fridays FrontRow Sports Grill and Fridays American Bar. Terms of the deal were not disclosed. Carlson bought TGI Fridays when the chain, which now operates more than 900 restaurants in 60 countries, consisted of just 12 restaurants. Carlson is a Minnetonka, Minnesota-based travel and hospitality company. The deal was announced May 20.