Capgrow Announces Sale of Stevi B's Pizza
Contact: H. Reid Sherard
Argonne Capital Acquires the 28-Unit Franchise From its Founders
Ann Arbor, Michigan, February 5, 2008 – Capital Growth Advisors, LLC (“CapGrow”) has announced the completion of the sale of Stevi B’s Pizza, a 28-unit franchise chain, by its founders, Robert Stoll, Jr. and Richard Stoll, to Atlanta-based Argonne Capital. CapGrow represented the sellers in the transaction. Details were undisclosed.
“Over the years, the Stoll brothers have created a very strong and profitable brand with loyal and dedicated franchisees,” said Karl Jaeger, Managing Director of Argonne. “All of us at Argonne Capital Group are looking forward to continuing and accelerating the growth in the Stevi B’s franchise system.”
Both founders also were pleased. “We are very happy that the Argonne Capital Group purchased Stevi B’s,” said Richard Stoll, Cofounder of Stevi B’s. “Since Argonne is both well capitalized and has such a strong restaurant operating history, we are confident that the Stevi B’s system is in very capable hands. Additionally, we can’t emphasize enough the key role that CapGrow played in the entire transaction.”
“The entire CapGrow team was delighted to be able to help the Stoll’s find such a perfectly suited buyer for their business,” said Reid Sherard, President/CEO of CapGrow. “We are confident Argonne will continue the success story at Stevi B’s.”
Stevi B’s Pizza Restaurants was founded in 1996 by brothers Robert Stoll, Jr. and Richard Stoll, under the premise of providing great food in an alcohol-free, smoke-free environment. Coined “the ultimate pizza buffet,” the restaurants offer a pizza buffet with the freshest ingredients and best pizza around. The concept, with its broad appeal to families, is now located in seven states throughout the Southeast and into the Midwest United States. Additional information can be found at www.stevibs.com.
Argonne Capital Group (“Argonne”) is a private equity firm based in Atlanta, Georgia, with $60 million of committed capital under management. Argonne’s principals and Board of Advisors are made up of experienced restaurant and real estate professionals. Its portfolio includes the two largest franchisees in the IHOP system.
Capital Growth Advisors, LLC, headquartered in Ann Arbor, Michigan, is a leading provider of fee based financial consulting services to the multi-unit restaurant industry. Additional information on CapGrow may be found at www.capgrow.net.