Tamarix Equity Partners, a trusted partner to family and founder-owned businesses across North America, is pleased to announce the sale of its portfolio company, Playa Bowls, to Sycamore Partners.
Playa Bowls is a healthy fast-casual restaurant franchisor featuring açai bowls, smoothies and related offerings. As of our investment in July 2021, Playa Bowls had 26 company-owned and 87 franchised locations. In just over three years of majority ownership, Tamarix led the company’s strategic expansion alongside new members of senior management, with a focus on new store openings, organic store-level growth, enhancement of margins through food and labor initiatives, and professionalization of the corporate platform.
Through these strategies and others, Tamarix was able to drive industry-leading unit economics that resulted in growing demand for franchised locations. As of our exit, Playa’s store count had grown to approximately 270 locations across 22 states, with more than 100 additional locations in the pipeline.
We are thrilled with the outcome of this investment and look forward to watching Playa Bowls’ continued expansion.
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