|By PR Newswire||
|August 21, 2014 12:16 PM EDT||
LOS ANGELES, Aug. 21, 2014 /PRNewswire/ -- Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, announced today that Global Franchise Group, LLC ("GFG"; www.globalfranchise.com), a portfolio company of Levine Leichtman Capital Partners IV, L.P., has successfully completed the strategic acquisition of Hot Dog on a Stick ("HDOS Enterprises" or "HDOS") through the purchase of HDOS's operating assets. Since its founding in California in 1946, HDOS has been serving its famous hot dogs on a stick and lemonade and now has 92 locations in the U.S. and select countries worldwide.
The addition of HDOS to GFG's existing portfolio of brands will allow HDOS to leverage GFG's vast resources, particularly on the franchising side, to accelerate growth and bring the HDOS brand into new territories and markets.
Lauren Leichtman, Co-Founder and CEO of LLCP, commented, "The HDOS acquisition is an important strategic addition to the GFG platform, which will strengthen the company's geographic footprint and provide yet another growth avenue for GFG. The transaction will be highly accretive and generate significant synergies that will ultimately provide value to all of GFG's stakeholders."
"The transaction with HDOS will add another strong brand to GFG's already existing robust quick service restaurant portfolio," said Chris Dull, President and CEO of GFG. "Utilizing GFG's strength in brand management, marketing and franchising, along with the iconic brand and long heritage of HDOS, we can greatly accelerate growth while providing HDOS's loyal customer base with even greater service and menu offerings in the years to come."
About Global Franchise Group
GFG, based in Atlanta, GA, is a strategic brand management company that owns and manages a portfolio of franchised brands in the quick service restaurant industry. These brands include Great American Cookies®, Pretzelmaker®, Marble Slab Creamery®, and MaggieMoo's Ice Cream & Treatery®. Combined with Hot Dog on a Stock, GFG has over 1,100 company-owned and franchised locations worldwide, primarily located in the United States, Canada, Latin America and Asia.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners is a private investment firm with offices in Los Angeles, New York, Dallas, Chicago and London. LLCP manages approximately $7.0 billion of institutional capital for investment in U.S. middle market companies. LLCP invests through private equity partnerships and various debt and leveraged loan funds. LLCP is currently making new investments through Levine Leichtman Capital Partners V, L.P., Levine Leichtman Capital Partners SBIC Fund, L.P., and Levine Leichtman Capital Partners Private Capital Solutions, L.P. Prior investments by Levine Leichtman Capital Partners include Santa Cruz Nutritionals, CiCi's Pizza, Hackney Ladish, Jon Douglas Real Estate Group, and Luminator Technology Group. For further information please see www.llcp.com.
SOURCE Levine Leichtman Capital Partners
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