Fresh Dining Concepts, a Coral Gables, Florida-based Auntie Anne’s franchisee, received an investment from Boathouse Capital.
The amount of the deal was not disclosed.
Boathouse Capital invested participating preferred equity while affiliates of Green Shoot Partners and members of FDC management invested common equity to support the transaction. Debt financing for the acquisition was provided by Bridge Funding Group, Inc., a subsidiary of BankUnited, N.A.
The company intends to use the funds to strategically grow the platform with additional ‘Tier A’ mall locations as well as expand its footprint into other high foot traffic locations such as airports and train stations.
Led by Luis San Miguel, CEO, and Kevin Bush, newly added Chief Strategy Officer, Fresh Dining Concepts is an Auntie Anne’s franchisee operating over 50 in-line stores, baking kiosks and satellite retail units along the East Coast from New York to Florida.
In addition to its Auntie Anne’s operations, the company also operates several Cinnabon and Carvel stores.