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TowerBrook sets its sights on restaurant sector

The private equity firm is banking on the experience of restaurant and bagel-chain guru Anthony Wedo as it explores opportunities in the sector.

TowerBrook Capital Partners has entered into a consulting agreement with restaurant executive Anthony Wedo who will help the firm to explore potential investment opportunities in the restaurant sector.

Wedo has more than twenty years of experience in the restaurant business including developing new restaurants in major markets in the US. Most recently, Wedo was chief executive of Mainline Management and Capital Advisors where he provided M&A advisory and executive management consulting to professional equity and debt sponsors. Prior to that, Wedo was chairman, president and chief executive of New World Restaurant Group, totaling approximately 1,000 units, with operating brands such as Einstein Bros, Noah’s and Manhattan Bagel.

This is not the first move into the retail sector for TowerBrook. Early last year the private equity firm made a significant move into the retail sector with its acquisition of high-end shoe retailer Jimmy Choo from Lion Capital for an enterprise value of £185 million ($370 million; €242 million). TowerBrook is the lead investor and together with its affiliates and co-investors controls 83 percent of Jimmy Choo.

TowerBrook Capital Partners, with offices in New York and London, currently has $2.5 billion under management.