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05/23/2022

Centre Partners Acquires Seafood QSR Captain D's

Captain D's operates a national chain of more than 500 seafood-focused quick service restaurants across the United States.

Centre Partners, a middle market private equity firm with offices in New York and Los Angeles, announced today that it has completed its acquisition of Captain D's Seafood and affiliated entities ("Captain D's" or "the Company"), a seafood-themed quick service restaurant group. Terms of the transaction were not disclosed.

Founded in 1969 and based in Nashville, Tennessee, Captain D's operates a premier national chain of more than 500 seafood-focused quick service restaurants across the United States. Throughout its storied history, Captain D's has provided high-quality, made-to-order seafood at affordable prices.

The transaction represents Centre Partners' second time partnering with Captain D's and its Chief Executive Officer Phil Greifeld. Centre Partners previously acquired Captain D's 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.

Bruce Pollack, Managing Partner of Centre Partners, said, "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."

Mr. 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. We are excited to build upon these initiatives with Centre Partners."