TowerBrook sets sights on restaurant sector

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

TowerBrook Capital Partners has entered into a consulting agreement with restaurant executive Anthony Wedo.

Wedo has more than 20 years of experience in the restaurant business including developing new restaurants in major US markets. 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. Before, Wedo was chairman, president and chief executive of New World Restaurant Group, totaling approximately 1,000 units, and operating brands such as Einstein Bros, Noah’s Bagels and Manhattan Bagel

This is not the first move into the retail sector for TowerBrook. Early last year the private equity firm purchased high-end shoe retailer Jimmy Choo from Lion Capital for an enterprise value of £185 million ($370 million; €242 million).

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