McAlister's Deli officials announced Tuesday that it has been acquired by Roark Capital Group, an Atlanta-based private equity firm. The company, which is headquartered in Ridgeland, Miss., has 170 restaurants in 19 states and has plans to build 40 additional restaurants this year. Terms of the transaction weren't announced.
Philip Friedman, chairman, president and CEO of McAlister's Corporation who helped lead a management buyout of McAlister's in April 1999, says the current management team will remain.
The first McAlister's Deli opened in Oxford, Miss., in 1989. Since moving to Ridgeland, the restaurant chain has continued to grow through franchising instead of corporate locations.
In 2004, McAlister's opened 29 franchised restaurants. Roark Capital Group is a private firm with $560 million of equity capital.
Over the past few years, Roark has purchased six franchise businesses, including Carvel, Money Mailer, Fastsigns, Cinnabon and certain international markets for Seattle's Best Coffee.