In a move to strengthen both companies, Engage Brands acquired Boston Market®. Engage Brands, which belongs to the Rohan Group of Companies—owned by real estate investor and restaurant operator Jignesh (Jay) Pandya—purchased the brand from Sun Capital Partners. Terms of the transaction are not known at this time.
"We are very pleased to partner with Engage Brands as we embark on our next chapter of growth," said Eric Wyatt, Chief Executive Officer of Boston Market. "Engage Brands brings an enthusiastic, experienced, and successful ownership group to Boston Market, as well as access to resources that we need to continue to operate our business in this challenging environment. With the strategic and financial backing Jay and his team bring, we will continue to focus on key operational initiatives to improve guest experience, menu development, and focus on the growth of our brand. We are now well-positioned to achieve future success during a period of unprecedented disruption for our industry."
Engage Brands will now assume total ownership of Boston Market. The Rohan Group of Companies, which Engage belongs to, is a well-established organization with ownership interests in a wide array of business enterprises, including operations with multiple franchised restaurant concepts.
According to a press release, the transaction was overseen by Piper Sandler Companies, who provided investment banking services, and Mackinac Partners, who provided business advisory and restructuring services.
"I am thrilled to be a part of such an iconic brand as Boston Market, a truly great American restaurant chain with a high quality and delicious menu. I look forward to working with and being a resource for the Boston Market team, preserving the jobs of our more than 5,500 team members, and helping set the brand on solid footing for the future," concluded Pandya.
Moves in the foodservice sector continue to abound, so keep up with Deli Market News for the latest.