Boathouse Capital Supports Management Buyout of KBP Foods
March 26, 2015
Boathouse Capital is pleased to announce that in partnership with Victory Park Capital, OFS Capital and KBP’s current management, it has completed a preferred equity investment in the management buyout of KBP Foods (“KBP” or the “Company”). Based in Overland Park, KS, KBP is a Yum! Brands restaurant franchisee that operates approximately 220 units across 10 states in the Southeast, South, and Midwest, and is the largest independent KFC operator in the country. Since its founding in the late 1990s, KBP has consistently demonstrated brand-leading financial and operating performance and has successfully integrated numerous accretive add-on acquisitions. The current management team will continue to execute on KBP’s strategy of acquiring and improving operations of franchised restaurants.
Steve Gord, Partner at Boathouse Capital, said, “We’re thrilled to back such an outstanding management team in the acquisition of the business they have run for many years. They are tremendously impressive operators and we are confident the Company will continue to prosper and grow with the support of its new capital partners.”
Barry Dubin of KBP remarked, “We’re excited to partner with Boathouse, Victory Park and OFS as we embark upon our next phase of growth. Our new private equity partners exhibited a high degree of flexibility and sophistication in navigating a complex and highly structured transaction. With our new capitalization, we are in an attractive position to take advantage of the opportunities before us.”