Move could signal new trajectory for Middle Eastern concept
An undisclosed investor group has bought out the stake that Roark Capital affiliates owned in Middle Eastern Naf Naf Grill. Roark Capital had purchased a minority equity share in the growing Middle Eastern fast casual in 2015.
Privately-held Naf Naf Grill operated and franchised 13 locations at the time of the investment, and now operates 39 restaurants, with another one in development, according to its online profile.
The Middle Eastern concept was Roark’s 18th restaurant brand investment.
“I am excited about the future of Naf Naf Grill and want to thank Roark for its support and positive contributions to the Company,” said Greg Willman, Naf Naf Grill chief executive.
Terms of the deal were not disclosed, and the announcement was quite brief. The breakup with Roark may chart a much different trajectory for the 39-unit chain.
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