Golden Gate Capital to buy Romano's Macaroni Grill
August 18, 2008
by Eric Schroeder
SAN FRANCISCO — Mac Acquisition L.L.C., an affiliate of San Francisco-based private equity firm Golden Gate Capital, has agreed to acquire a majority interest in Romano’s Macaroni Grill from Brinker International, Inc. Romano’s is a casual Italian restaurant chain with more than 220 locations worldwide. It is the second-largest brand in the Brinker portfolio.
As part of the transaction, Golden State Capital has agreed to pay $131.5 million in cash to Brinker. Of that total, $6 million will be contributed to Mac Acquisition. Upon closing, Brinker will retain a 19.9% stake in the brand.
"Golden Gate is well known for partnering with corporations to help grow established consumer and retail brands," said Doug Brooks, chairman and chief executive officer of Brinker. "Brinker International will retain a minority ownership position in order to both maximize the value to Brinker’s shareholders and contribute to the success of Macaroni Grill as a stand-alone entity."