Arbor Private Investment Closes Fund II With 170MM
Dow Jones
Arbor Private Investment Co., a Chicago investor in food andbeverage companies, has closed its second buyout fund with $170 million. Arbor Investments II LP is substantially larger than its $42 million predecessor, which closed in 2001. Even with the larger fund, Arbor will continue focusing on food and beverage retailers, distributors and restaurant franchises with $5 million to $15 million in annual earnings before interest, taxes, depreciation and amortization, said Richard Boos, Arbor vice president. Fund I is fully invested across seven platform investments. The firm has been busy investing fund II, closing three deals this year. It most recently paid an undisclosed amount last month for Rice Garden, of Alhambra, Calif.-based Chinese restaurant with 70 locations. The others were liquor store chain Sam’s Wine and Spirits and deli meat producer National Provisions Inc. Arbor was created in 1999 by Gregory Purcell and Joseph Campolo. The two previously handled mergers and acquisitions for Reyes Holdings LLC, a food and beverage distributor.
Reach Arbor at Arbor at 312-981-3770.
http://www.arborpic.com
Matthew.Monks@dowjones.com Copyright © 2007, Dow Jones