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Friday, Apr 19, 2024

Sizzler Purchase Completed

Sizzler Deal Completed Pacific Equity Partners has completed the acquisition of Worldwide Restaurant Concepts for about $210 million. The acquisition is the first American purchase for PEP, an Australasian private equity firm based in Queensland, Australia that focuses on buyouts and late stage expansion capital deals. The company also said it was the first acquisition of a U.S. public company by an Australasian firm. Company officials called the transaction “one of the most intricate” the firm has worked on to date. “This is certainly one of the most intricate deals we have worked on to date,” said Rob Koczkar, PEP managing director, “fueled by a complex regulatory environment in the U.S. and the need for us to consult with a broad range of stakeholders. PEP announced its intention to acquire Worldwide, which operates Sizzler, Pat & Oscar’s and KFC units in the U.S. and abroad, earlier this year. With the deal, Worldwide has ceased to trade on the New York Stock Exchange.

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