Centre Partners, a middle market private equity firm with offices in New York and Los Angeles, has completed its acquisition of Captain D’s Seafood and affiliated entities, a seafood-themed quick service restaurant group headquartered in Nashville, Tennessee. Terms of the transaction were not disclosed.
Founded in 1969, the company operates a premier national chain of more than 500 seafood-focused fast casual restaurants across the United States. Throughout its history, Captain D’s has provided high quality, made-to-order seafood at affordable prices. Among seafood products offered are Southern-style whitefish, flounder, catfish, shrimp, blackened tilapia, grilled salmon and fried oysters. Also on the menu is chicken and a wide assortment of side dishes and desserts including hush puppies, french fries, baked potatoes, okra, cheesecake and funnel cake stix.
The transaction represents Centre Partners’ second time partnering with Captain D’s and its chief executive officer, Phil Greifeld. The private equity firm previously acquired the chain in 2013 and exited the business in 2017. The Captain D’s management team has invested alongside Centre Partners and will continue to serve in their current roles.
“We are excited to have the opportunity to partner with Phil Greifeld and this experienced executive team once again. With its differentiated menu of craveable seafood, Captain D’s provides a unique value proposition to its customers. We look forward to supporting Phil and the team as they seek to significantly expand the business,” said Bruce Pollack, managing partner of Centre Partners.
Greifeld commented: “We are proud to welcome Centre Partners back to the Company and continue our growth story with their support. Their deep understanding of our business makes them an ideal partner for our next phase of growth. We continue to improve the customer experience with new menu offerings; streamlined digital, drive-thru and delivery options; and an expanding geographic footprint.”
