Brentwood Associates Announces Sale of Pacific Island Restaurants

Portfolio Company News: Pacific Island Restaurants

Brentwood Associates (“Brentwood”), a leading consumer-focused private equity investment firm, announced it has completed the sale of Pacific Island Restaurants, Inc. (“PIR”), to Nimes Capital, LLC (“Nimes”). PIR is the sole franchisee of Pizza Hut and Taco Bell throughout Hawaii, Guam and Saipan. Terms of the transaction were not disclosed.

Since acquiring PIR in 2004, Brentwood has worked with the PIR management team to help them build upon their very strong market positions in both brands. The Company implemented one of the most successful call centers in the Pizza Hut system, while also opening six new restaurants and acquiring six restaurants. They have been able to capitalize on the strength of the Taco Bell and Pizza Hut brands to drive what has been a very successful investment.

Anthony Choe, Partner at Brentwood, commented, “The PIR management team under Henry Katsuda ‘s leadership has done a tremendous job executing on the company’s growth initiatives. We are confident the company will continue to thrive under new ownership.”

Rahul Aggarwal, Managing Director at Brentwood, added, “PIR is one of the elite operators in the YUM! system, with incredible employee tenure and loyalty at all levels of the organization. It’s been a true pleasure working with them and our partners at YUM!”

Commenting on PIR’s partnership with Brentwood, CEO Henry Katsuda said, “Brentwood has been an extremely supportive partner, providing us with the resources necessary for us to continue to build upon our success. We feel very well positioned for the future ahead with our new partners at Nimes.”

The exit of PIR marks the latest in what has been an active year for Brentwood. The firm has successfully exited three other investments in 2012: Array Marketing Group, Filson Holdings and Ariat International. In addition, Brentwood also acquired two high-growth, multi-channel lifestyle brands: Soft Surroundings and Sundance.

Harris Williams & Co. acted as the exclusive advisor to PIR.

Pacific Island Restaurants, Inc.

Headquartered in Honolulu, HI, Pacific Island Restaurants is the largest restaurant operator – and sole Pizza Hut and Taco Bell franchisee – in Hawaii, Guam, and Saipan and is among the largest franchisees in the YUM! system. The company’s heritage dates back to 1971 when the first Pizza Hut was opened in Hawaii. PIR has grown to become the leading quick service restaurant operator in its markets with over 80 locations and 2,000 employees.

Brentwood Associates

Brentwood Associates is a leading consumer-focused private equity investment firm with over $650 million of capital under management and a thirty-year history of investing in leading middle-market growth companies. Brentwood focuses on investments in growing businesses where it is able to leverage its extensive experience in areas such as: branded consumer products; consumer services; direct marketing, including direct mail and e-commerce; education; health and wellness; restaurants; and specialty retail. Since 1984, Brentwood’s dedicated private equity team has invested in 42 portfolio companies with an aggregate transaction value of over $5 billion. With significant experience in both investing and brand building, Brentwood is a value-added partner with entrepreneurs and executives building world-class companies. For more information about Brentwood, please

Nimes Capital

Nimes Capital, LLC is the private investment arm of Nazarian Enterprises concentrating in investments in alternative asset classes. Nazarian Enterprises has a well-established track record of successful investing, including its role as a lead early-stage investor in Qualcomm, Inc. Led by David Nazarian , the Nimes Capital team has invested in, operated, and/or overseen numerous investments across a broad spectrum of industries. Nimes builds long-term relationships with individuals and organizations that welcome the added value of its hands-on approach and that share its values of mutual respect, honesty, and corporate citizenship.