Shari’s Management Corporation
Shari's, headquartered in Beaverton, OR, is the dominant family dining chain in the Pacific Northwest. The company operates 97 company owned units in Washington, Oregon and surrounding states and has nearly a 30 year history of providing customers with high quality, reasonably priced meals.
Business Description
Shari’s is the dominant family dining chain in the Pacific Northwest. The company operates 97 company owned units in Washington, Oregon and surrounding states and has nearly a 30 year history of providing customers with high quality, reasonably priced meals. The company’s units are open 24 hours a day and offer a menu that includes a broad range of breakfast, lunch, dinner and desert items in a comfortable atmosphere.
Background
The investment opportunity in Shari’s was introduced by a private investor / executive who had previously attempted to buy the company and maintained a dialogue with the owners. The investment in Shari’s resulted in the majority acquisition of the company.
Select Value Creation Initiatives
- Worked with management on a variety of product pricing and menu engineering strategies that enhanced the value perception of the chain and increased same store sales.
Outcome
Shari’s was sold to a financial buyer in 2005 resulting in an attractive total return on the combined junior debt and equity investment. Nicolet Capital’s President worked closely with the company and its advisors to manage the exit.
Testimonials
“It was a pleasure to have Brett Snyder on our board. Brett brought a new level of professionalism to our management team.”
-Larry Curtis, President of Shari’s