Primanti's to expand with investor's help
Primanti Brothers is looking to expand, and that doesn't mean heaping more fries, cole slaw and tomatoes onto its sandwiches.
The popular Pittsburgh restaurant chain said it landed its first outside investment, an unspecified amount from private equity firm Catterton Partners. It will put the funding toward expanding the Primanti brand and introducing it to new audiences, but it did not disclose details.
The Catterton firm, of Greenwich, Conn., has helped to expand companies such as Baja Fresh Mexican Grill and P.F. Chang's, Primanti Brothers said. Its investment in the chain that Joe Primanti started in 1930s, with a sandwich cart in the Strip District, could help take Primanti's to the “next level,” the statement said.
By serving “some of the best and boldest sandwiches in the country,” it said, the chain established a premier position in the restaurant industry.
Jim Patrinos bought the business in 1974 from Dick Primanti, one of Joe's brothers. He expanded it from the original Strip District restaurant to 18 Western Pennsylvania locations, plus three in Florida, and added pizza, wings, salads and other dishes to the menu.
Patrinos was unavailable for comment, as was J. Michael Chu, Catterton's managing partner.
Patrinos and Nick Nicholas, owner of Nicholas Coffee Co., are owners in Primanti's and are expected to retain active roles in operations and growth strategies.
Catterton's website said it is one of the largest private equity firms in the United States focused on the consumer industry, with more than $2.5 billion in equity capital under active management.
Kim Leonard is a staff writer for Trib Total Media. She can be reached at 412-380-5606 or firstname.lastname@example.org.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Consol Energy files for IPO of coal spin-off
- Conventional gas, oil drillers seek rules differing from shale industry in Pennsylvania
- U.S. Steel considers temporary shutdown of Minn. plant
- Stocks of Pittsburgh-area companies set record in March
- Dominion Resources CEO Farrell made $17.3M in 2014
- Internet gambling results ‘disappointing’ so far
- Home prices rise as supply still tight
- 6-year stock market rally still going strong, bulls say
- UnitedHealth bulks up for prescription drug cost fight
- Nonprofit Concordia Lutheran Ministries adjusts to marketplace realities
- GNC will expand its testing of supplements in settlement with NY