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January 3, 2005
Captain D's Sold
Quick-service seafood chain Captain D’s has been sold to a partnership consisting of Charlesbank Capital Partners, Grotech Capital Group and the chain’s management team.
Captain D’s operates 577 restaurants located primarily in the southeast United States. The chain posted system-wide revenue of $515 million for the 12-month period that ended on Sept. 26, 2004. Ron Walker, a 20-year veteran of Captain D's, will continue as president and COO of the chain.
According to a report in The WashingtonPost, the sale price for Captain D’s was $150 million. The report quoted Frank Adams, Grotech’s managing general partner, saying that the acquisition will provide a platform to acquire other restaurant chains and build a multi-billion-dollar restaurant business.
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