COLUMBIA, MD, February 1, 2016 – JPB Capital Partners, a leading strategic equity investor in lower-middle market consumer-related brands and services, has announced a majority investment in Mulligan’s Beach House Bar and Grill, a full-service, family-oriented, seafood restaurant serving breakfast, lunch, and dinner in six locations throughout Florida.
Founded in 1997 by George Hart, a 30-year restaurant veteran, the Mulligan’s chain includes six Florida locations—all with water views—in Sebastian, Vero Beach, Stuart, Jensen Beach, Lauderdale By the Sea and Lake Worth. Mr. Hart will continue on as President and CEO of the Company and will lead the execution of the Company’s strategic growth plan as the Company looks to further expand in Florida and the Southeast.
“We are excited about partnering with George and his management team to continue the successful development of the Mulligan’s brand,” stated JPB managing director Greg Carey. “We believe the continued growth in the Florida economy, as well as the outstanding food, top-notch service, and unique locations will provide ample opportunities for future expansion.”
“Based on JPB Capital Partners extensive restaurant experience, I selected them as a partner to help expand my brand throughout Florida as well as the remainder of the southeast US,” stated Mulligan’s founder, George Hart.
To move the brand forward, JPB, in partnership with management, intends to leverage the strong unit economics of the brand and expand company-owned stores into new adjacent markets. To support this growth, JPB will work with the Company to fine tune the site selection process, augment the management team, improve the consistent application of management and financial systems, enhance the Company’s training program; and, better leverage advertising spending.