Portfolio Company News: Pacific Island Restaurants
Brentwood Associates yesterday said it sold Pacific Island Restaurants Inc., a large Pizza Hut and Taco Bell franchisee in the Pacific Rim, to the Century City private investment arm of Nazarian Enterprises, reported the Los Angeles Business Journal.
Brentwood Associates, a West L.A. private equity investment firm that targets middle market consumer-focused and direct-marketing companies, did not disclose financial terms of the deal with Nimes Capital LLC. Nimes is headed by David Nazarian, part of the prominent Los Angeles family that was an early investor in Qualcomm Inc.
Pacific Island Restaurants is based in Honolulu and is the sole franchisee of Yum! Brand Inc.’s Pizza Hut and Taco Bell restaurants in Hawaii, Guam and Saipan. It has 80 locations and 2,000 employees.
The sale is Brentwood Associates’ fourth exit in the past 12 months.