Fortress Investment Group Acquires Logan’s Roadhouse, Old Chicago Pizza + Taproom, Rock Bottom, Gordon Biersch Brewery Restaurants and Other Specialty Brands
$93 Million Credit Bid
Locations Open Across the Country
Nashville, TN (June 12, 2020) – SPB Hospitality, LLC, (“SPB”) a multi-brand affiliate of Fortress Investment Group, has taken over operations and management of Logan’s Roadhouse, Old Chicago Pizza & Taproom, Rock Bottom Brewery, Gordon Biersch, ChopHouse & Brewery, Big River Grille & Brewing Works, AIA Ale Works Restaurant & Taproom, Ragtime Tavern Seafood & Grill, and Seven Bridges Grille & Brewery.
With the completed sale of the brands, many restaurants are open, and the company is rehiring former team members. Additional restaurants will reopen over the coming weeks in compliance with locals laws and regulations. SPB anticipates operating restaurants in thirty-nine (39) states across the US.
“Under Fortress ownership, SPB will manage an exceptional group of brands, with loyal customers and dedicated employees and franchisees across 39 states,” said Marc Buehler, Chief Executive Officer of SPB Hospitality. “The efforts of thousands of our extraordinary team members allowed us to maintain services in many of our locations in an enormously challenging environment, and we are intensely focused on bringing more and more team members back to work as we re-open additional restaurants. Redoubling our commitment to delivering a tremendous experience and value proposition to our guests, we see terrific opportunities ahead for the SPB brands.”
Many of the locations are open for carry out and delivery. Most dining rooms are also open as Covid-19 restrictions loosen in many states.
About SPB Hospitality
SPB Hospitality is a leading operator and franchisor of full-service dining restaurants, spanning a national footprint of hundreds of restaurants and breweries in 39 states and the District of Columbia. The Company’s diverse portfolio of restaurant brands includes Logan’s Roadhouse, Old Chicago Pizza & Taproom, and a collection of restaurant-brewery brands, including Rock Bottom Restaurant & Brewery and Gordon Biersch Brewery Restaurant. SPB Hospitality also operates a collection of specialty restaurant concepts including ChopHouse & Brewery, Big River Grille & Brewing Works, AIA Ale Works Restaurant & Taproom, Ragtime Tavern Seafood & Grill, and Seven Bridges Grille & Brewery.
Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $43.5 billion of assets under management as of December 31, 2019. Founded in 1998, Fortress manages assets on behalf of over 1,750 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. For more information regarding Fortress Investment Group LLC please visit www.fortress.com.
CONTACT: Josh Kern