“In Onex, we have found a partner that understands the heritage of the Jack’s brand and its emphasis on people, service and community, which have allowed the company to be successful over the years,” said Benny LaRussa Sr., CEO and owner of Jack’s. “We are excited about partnering with Onex for the next phase of Jack’s growth.”
Jack’s Family Restaurants is an operator of quick-service restaurants specializing in burgers, fried chicken, made-from-scratch biscuits, crinkle-cut fries and hand-dipped shakes. The company employs approximately 4,400 individuals across 129 company-owned stores in Alabama, Georgia, Mississippi and Tennessee. Jack’s Family Restaurants was founded in 1960 and is headquartered south of Birmingham in Homewood, AL (www.eatatjacks.com).
“Jack’s is a differentiated concept with strong consumer loyalty driven by its focus on high-quality food and exceptional customer service, which has contributed to its success over several decades,” said Matthew Ross, a Managing Director with Onex. “We are excited to work with the entire Jack’s team as well as the LaRussa family, and look forward to continuing to invest in Jack’s people and its brand for years to come.”
Onex Corporation makes private equity investments through the Onex Partners and the ONCAP families of funds. Onex has more than $21 billion of assets under management and is based in Toronto with additional offices in New York and London (www.onex.com). The investment in Jack’s Family Restaurants will be made by Onex Partners IV, Onex’ $5.7 billion flagship fund.
2015 PEPD • Private Equity’s Leading News Magazine • 5-26-15