Catterton Partners has made an investment in PIADA Italian Street Food, a fast-casual Italian eatery. Catterton’s investment will be used to continue growing the PIADA concept across the country. PIADA Italian Street Food has 14 locations across the Midwest, with 6 planned to open by the end of 2013.
PIADA is a fast-casual, authentic Italian eatery that serves made to order Piadas (an Italian thin crust dough, baked on a stone grill, then hand rolled with fresh authentic ingredients), Pasta Bowls and Chopped Salads. PIADA restaurants feature a modern Italian design with white Carrara marble, fumed white oak furniture, LED lighting and stained concrete floors. The company was founded by Chris Doody, who co-founded the BRAVO BRIO Restaurant Group in 1992. PIADA is based in Columbus, OH (www.mypiada.com).
“We are excited to enter into this strategic partnership with Catterton, which has extensive expertise in developing restaurants and expanding brands,” said Mr. Doody. “We are confident that PIADA’s fresh ingredients, innovative menu and customizable options will translate well to new markets throughout the US and beyond. With Catterton’s support, we look forward to the continued evolution of our growth strategy as we pursue our goal of building the leading fast-casual Italian restaurant company in the country.”
Catterton Partners focuses exclusively on the consumer industry and invests in all major segments including food and beverage; retail and restaurants; consumer products and services; and media and marketing services. Catterton was founded in 1989 and has more than $4 billion in capital under management. The firm is located in Greenwich, CT (www.cpequity.com).
“We believe PIADA will be one of the great success stories in fast-casual dining,” said Scott Dahnke, Co-Managing Partner of Catterton Partners. “PIADA is the leading player in the Italian fast-casual space and fits squarely within our investment strategy of finding top companies in great categories. We have a long history of partnering with exceptionally well positioned restaurant concepts such as Noodles & Company, Mendocino Farms, P.F. Chang’s, Baja Fresh, Bloomin’ Brands, Primanti Brothers, Cheddar’s, and First Watch, and believe that our extensive experience makes Catterton the ideal partner for PIADA.”
PIADA was advised by Piper Jaffray & Co. and its legal counsel was Kegler, Brown, Hill & Ritter. Catterton was represented by Finn Dixon & Herling.
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-27-13
