Quiznos names new c.e.o.; equity firm takes position in company
January 08, 2007
by FoodBusinessNews.net Staff
DENVER — Quiznos has named Greg Brenneman president and chief executive officer, effective immediately. Rick Schaden, previously chairman and c.e.o. of Quiznos, will remain on as chairman.
In further news, TurnWorks, Inc., Mr. Brenneman’s private equity firm, has taken an equity position in the company. In May 2006, Cervantes Capital sold part of its ownership in Quiznos to J.P. Morgan Partners, a private equity division of JPMorgan Chase & Co. CCMP Capital Advisors, L.L.C., a private equity firm formed by the former buyout/growth equity professionals of J.P. Morgan Partners, manages the investment for J.P. Morgan Partners.
Cervantes Capital, J.P. Morgan Partners and TurnWorks, Inc. now all have equity positions in Quiznos.
Mr. Brenneman’s primary focus will be on Quiznos but he will continue to be involved in TurnWorks, Inc.