Eat Here Brands Completes $12.25 Million Capital Raise
Jackson, Mississippi (PRWEB) January 09, 2014 -- Eat Here Brands LLC announced the successful completion of a capital raise of $12.25 million in private equity. The financing will support the restaurant group’s plans for the expansion of three restaurant brands—Babalu Tacos & Tapas®, Table 100 Restaurant & Bar, and Five Guys Burgers & Fries®.
According to Mike Stack, the Executive Chairman of Eat Here Brands, “We are delighted to be in a strong cash position to move forward with our expansion plans. We consider the success of this offering to be a sign of confidence from our investors, and we are in an ideal position to continue opening restaurants in new markets throughout the Southeast.”
Eat Here Brands, which has offices in Jackson, Mississippi and Roswell, Georgia, entered into lease agreements for Babalu Tacos & Tapas restaurants in Memphis, Tennessee and Birmingham, Alabama. The restaurant offers an eclectic menu featuring gourmet tacos and other scratch-cooked Latin-American dishes. Guacamole is served tableside and craft cocktails are made using freshly squeezed fruit juices. The Memphis restaurant will open in the spring of 2014 and be located in the city’s vibrant Overton Square area. The Birmingham restaurant will open in the summer of 2014 in the heart of the city’s Lakeview district at the corner of 29th Street South and 7th Avenue South.
Eat Here Brands is searching for additional locations throughout the Southeast for both Babalu Restaurants and Table 100 Restaurant & Bar, which features Euro-American bistro fare and a classy casual atmosphere. The Company is also planning new Five Guys Burgers & Fries restaurants in North and Central Mississippi in 2014, following on the success of their Five Guys franchise restaurants in Ridgeland, Flowood, and Hattiesburg, Mississippi.
“We have the right people and the right brands in place for strong growth,” said Ned Lidvall, President and CEO of Eat Here Brands. “With Five Guys, you have a proven performer that’s ripe for expansion within Mississippi. And, with Babalu and Table 100, you have unique, culinary-driven restaurant concepts that have performed exceptionally well in Mississippi and are poised for growth as we seek additional locations in the southeastern United States.”
ABOUT EAT HERE BRANDS:
Eat Here Brands combines the experience and talent of two of Mississippi’s best-known restaurateurs, Bill Latham and Al Roberts, with the vision and leadership expertise of multi-concept restaurant pros, Ned Lidvall and Mike Stack. The company operates Babalu Tacos & Tapas, Table 100 Restaurant & Bar, and Five Guys Burgers & Fries in the Jackson, Mississippi, metro and Interim RestaurantSM and Bar in Memphis, Tennessee. The Founders of Eat Here Brands have launched some of Mississippi’s best-known restaurant brands, including Amerigo, Char, and McAlister’s Deli. Stack and Lidvall have both national and international restaurant development experience. Visit eathere.com/press.
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Peter Marks, Maris, West & Baker, +1 (601) 7200179, [email protected]
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