Garden Fresh Restaurants, parent of Souplantation and Sweet Tomatoes, announced today that Perpetual Capital Partners and CR3 Capital, an investment affiliate of CR3 Partners, has acquired the 97-unit soup, salad, and bakery restaurant chain.
Terms of the deal were not disclosed.
“Souplantation and Sweet Tomatoes are uniquely positioned with an extremely loyal customer base and dedicated restaurant teams,” said Gene Baldwin, Garden Fresh Restaurants interim CEO and partner at CR3 Partners. “This creates new opportunities for all of our employees, guests and business partners as we move forward.”
The acquisition follows the company’s resurgence out of bankruptcy earlier this year, and provides a long-term ownership base for the company. CR3 Partners led the restructuring and has been managing the company for several months.
Garden Fresh Restaurants, operator of 97 restaurants in 9 states, serves more than 20 million guests each year and is known for its 50-ft. salad bar, made from scratch soups, hot pastas, freshly baked breads, muffins and desserts. Guests have the freedom to create their own wholesome meal in a one-of-a kind dining experience in a family friendly atmosphere at an everyday value. The company is based in San Diego, CA and operates under two brand names: Souplantation in Southern California and Sweet Tomatoes elsewhere.