The Beekman Group Announces Majority Recapitalization of Daytime Restaurant Franchisor Another Broken Egg of America
MIRAMAR BEACH, Fla., November 13, 2017-- Beekman Investment Partners III, LP (“Beekman”), a leading private equity firm based in New York, announced today that an affiliate has made a majority investment in Another Broken Egg of America, LLC (“Another Broken Egg”), a premier “better breakfast” restaurant brand. Another Broken Egg’s existing management team will continue to lead the company and will retain a meaningful equity stake in the business.
Beekman and its principals have significant investment experience in the consumer and restaurant industry. The firm has a proven track record and extensive experience growing companies across a variety of sectors and complex situations. Beekman recently partnered with Chris Artinian, a veteran restaurant executive with over 25 years of relevant experience, to take a meaningful leadership position in its consumer investments. Chris, who has served as President and CEO of Morton’s The Steakhouse, Smokey Bones Bar & Fire Grill and TooJay’s Deli-Bakery-Restaurant, will assume the role of President of Another Broken Egg.
“Another Broken Egg Cafe is a modern and on-trend restaurant concept with a distinctive menu and friendly service,” said Chris Artinian, Managing Director at Beekman. “We are excited to partner with the talented management team at Another Broken Egg to build on the company’s legacy and accelerate growth. Another Broken Egg is a winning franchisor model and positioned as one of the leading daytime restaurant concepts in the quickly growing upscale breakfast category. We look forward to working with franchise partners as we continue to innovate the brand and grow our market presence.”
Headquartered in Miramar Beach, Florida, and founded as a franchising company in 2000, Another Broken Egg operates and franchises full-service restaurant cafes serving southern-inspired breakfast, brunch and lunch options. Its restaurants feature an expanding selection of traditional and innovative menu items ranging from seasonal specialties to handcrafted signature cocktails. The company takes pride in its Southern heritage, and is committed to providing exceptional hospitality in a comfortable and distinguished atmosphere. Another Broken Egg has earned a reputation for innovating its menu with distinctive flavors and for providing creative twists on breakfast classic dishes and new lunch favorites. This passion for distinctive flavors and a welcoming customer experience is what makes Another Broken Egg so unique.
Over the past 20 years, the Another Broken Egg Cafe concept has realized robust growth driven by strong visit frequency from its loyal guests, by its unique and exceptional menu offerings, and by its experienced and professional support system that combined make Another Broken Egg an attractive franchise opportunity. Today the company has 65 cafes open and continues to grow in new and existing markets across the United States. Earlier in 2017, the company launched a new menu offering which has earned high marks and reviews from its loyal guests, resulting in increased same store sales growth in 2017.
“It’s been our passion to create exceptional dishes for breakfast, brunch, and lunch that are 'craveably' delicious with an artisanal flair,” said Ron Green, Founder of Another Broken Egg. “This is an exciting time in our company’s evolution, and a fantastic opportunity to capitalize on strong momentum in the daytime restaurant category. We believe Beekman is the right partner to help us significantly expand our store base, build on our rich heritage, and reaffirm our reputation as a leading 'better breakfast' restaurant brand.”
Daytime dining remains one of the most attractive and growing categories in the restaurant industry today with broad consumer appeal. Another Broken Egg’s commitment to delivering a differentiated guest experience, a warm dining environment, and a distinctive culinary offering collectively provides exceptional value that resonates with consumers. It is precisely these characteristics that make the Another Broken Egg concept such a compelling franchise model. The company has won numerous accolades including Fastest Growing FSR Chain by Technomic, Top Growth Franchise by Entrepreneur Magazine, and Top 50 Emerging Chains by Restaurant Business Magazine. The company also recently made the Franchise Times Top 200+ List and was listed #1 in sales growth in the breakfast category.
About The Beekman Group
The Beekman Group is a leading private equity firm, based in New York, dedicated to bringing financial and operational resources to lower middle-market companies. Beekman's team consists of experienced private equity professionals, as well as a select group of Industry Advisors, who are leading executives in Beekman's targeted industry segments. This Industry Advisor focused approach to investing is the cornerstone of Beekman's investment strategy -- creating value through accelerating growth and transformational change in partnership with small and middle-market management teams. For more information, please visit www.thebeekmangroup.com.
About Another Broken Egg
Another Broken Egg Cafe is an award-winning restaurant concept and a leader in the daytime brunch sector with 65 cafes open across the United States. The company’s mantra of “Nothing short of right is right” is exhibited throughout each location, communicated through hands-on owners who believe that every detail is important to the overall goal: making the customer happy. Today, the company enjoys a rich heritage of southern hospitality and a chef-inspired menu focused on fresh ingredients and creative recipes across a variety of breakfast classics, specialty cocktails, signature specials and fresh, made to order, dishes. Its units are open from 7am to 2pm daily. For more information, please visit www.anotherbrokenegg.com.
Another Broken Egg
Jan Barnett, 850-424-5157
Venture Capital Database