Fort Lauderdale, FL (RestaurantNews.com) Goode Partners, a consumer oriented private equity firm, announced that it has made a strategic investment in Sicilian Oven Restaurants, a Florida-based polished casual restaurant group featuring craveable and shareable dishes and authentic Italian recipes. Sicilian Oven® now operates ten locations across Southern Florida. The investment by Goode Partners will support the Company’s continued geographic expansion both within and outside the state of Florida.
Sicilian Oven was founded in 2008 in Fort Lauderdale, Florida, by longtime friends and industry veterans Ralph DiSalvo and Andrew Garavuso. The two were restaurant industry veterans who developed a shared passion for scratch-made recipes, wood-fired cooking and the warm hospitality found in traditional Italian homes. From the beginning, Sicilian Oven set out to be more than a typical Italian restaurant, emphasizing fresh, made-to-order dishes designed to be shared and enjoyed the moment they come out of the oven – food crafted with care, where guests are meant to “love the taste, and taste the love”. The idea quickly resonated with South Florida diners, and Sicilian Oven steadily grew a loyal following drawn to its handcrafted pizzas, Italian specialties and superior guest experience. Today, Sicilian Oven is frequently highlighted in local dining guides and ‘best pizza’ lists across South Florida.
“I’m very excited to announce Goode’s new partnership with Ralph, Andrew and the highly talented Sicilian Oven team entering this next chapter of the Company’s evolution,” said Dan Bonoff, Partner at Goode Partners. “Sicilian Oven is a fantastic concept that delivers consistently outstanding food and service at a very approachable price point. Given the appealing unit economics and geographic white space, we believe the Company is extremely well positioned for meaningful expansion, and we’re excited to be a part of it.”
Sicilian Oven Founder Ralph DiSalvo added, “This partnership marks an exciting milestone for our company. We’ve always believed in the strength of our people and the authenticity of the Sicilian Oven brand. With Goode’s support and resources, we’re looking forward to expanding our footprint, creating new opportunities for our team, and bringing the Sicilian Oven experience to more communities.”
Goode Partners’ equity investment was supported by debt financing from Gladstone Capital Corporation and Mitsubishi HC Capital America. Goode was advised by Cowan, DeBaets, Abrahams & Sheppard, Egan Nelson and CM Law. The sellers were represented by Berger Singerman LLP and Geraty Investments.
About Goode Partners
Goode Partners LLC is a New York-based private equity firm that focuses exclusively on investment opportunities in the food and beverage, wellness, restaurant, apparel, branded consumer products and retail sectors. The firm has established itself as a partner of choice by leveraging its unique combination of investment capital, a team of professionals with experience investing in and operating some of the world’s premiere consumer brands and an extensive industry network. Goode seeks to partner with the founders and managers of branded consumer-oriented companies with significant growth potential. More information on Goode Partners and its team can be found on the firm’s website GoodePartners.com.
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