AP NEWS
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Capitala Group’s Growth Fund Announces Successful Exit of Fresh Dining Concepts

December 3, 2019

CHARLOTTE, N.C., Dec. 03, 2019 (GLOBE NEWSWIRE) -- Capitala Group, a provider of capital to lower middle market companies, is pleased to announce its successful exit from its investment in Fresh Dining Concepts, an operator of Auntie Anne’s, Cinnabon and Carvel restaurants.

Headquartered in Miami, Florida, Fresh Dining Concepts is an Auntie Anne’s Inc. franchisee that operates 49 in-line stores, baking kiosks, and satellite retail units. The Company is the third largest franchisee in the Auntie Anne’s system and operates stores in New York, Pennsylvania, New Jersey, Connecticut, Florida, Louisiana, and Puerto Rico.

“I enjoyed working with the team from Capitala Group and found them to be very valuable business partners,” stated Luis San Miguel, President and CEO of Fresh Dining Concepts. “I especially appreciated their insights on ways to address the challenges presented by our growth trajectory and their continued support for me and my management team.”

Adam Richeson, Managing Director of Capitala Group, added, “Luis and his team have done an incredible job of building a great business. They have truly developed into the premier operator in the Auntie Anne’s system and were key to executing on such rapid growth.”

K&L Gates LLP and Dixon Hughes Goodman LLP acted as advisors to both Capitala Group and Fresh Dining Concepts.

Capitala Group first invested in Fresh Dining Concepts in August 2015 and provided necessary capital and insights to advance Fresh Dining to the next phase of growth.

About Capitala GroupCapitala Group is a $3.0 billion asset management firm that has been providing capital to lower middle market companies through its credit, growth and equity investment strategies throughout North America for twenty years. Since its inception in 1998, Capitala has invested in over 150 companies and seeks to partner with strong management teams to create value and generate superior risk-adjusted returns for its individual and institutional investors. For more information, definition and details visit Capitala Group’s website at www.CapitalaGroup.com.

Contacts:

Steve ArnallCFO | COO sarnall@capitalagroup.com

Katina Cole Jakubowski Director of Marketing kjakubowski@capitalagroup.com

SOURCE: Capitala Finance Corp.