Authentic Restaurant Brands Adds Tavern in the Square As its Latest Fortress Regional Brand; Appoints Veteran Leadership Team to Supercharge Platform’s Growth
Authentic Restaurant Brands (ARB) has announced the addition of Tavern in the Square to its portfolio through the recapitalization of Broadway Hospitality Group. This marks ARB's fifth acquisition in five years, growing the platform to approximately $1 billion in annual revenue and over $150 million in EBITDA.
In a leadership transition, Alex Macedo has been appointed Chairman and CEO, replacing Felipe Athayde, while Jon Howie joins as CFO from Chuy's Holdings. ARB's portfolio now includes regional brands: Primanti Bros., P.J. Whelihan's, Mambo Seafood, Pollo Tropical, and Tavern in the Square.
The New England-based Tavern in the Square will receive operational support, strategic capital, and technological resources from ARB to drive growth in core and adjacent markets, while maintaining its brand integrity and local dining experience.
Authentic Restaurant Brands (ARB) ha annunciato l'aggiunta di Tavern in the Square al suo portafoglio attraverso la ricapitalizzazione di Broadway Hospitality Group. Questo segna la quinta acquisizione di ARB in cinque anni, facendo crescere la piattaforma a circa 1 miliardo di dollari di fatturato annuale e oltre 150 milioni di dollari di EBITDA.
In una transizione di leadership, Alex Macedo è stato nominato Presidente e CEO, sostituendo Felipe Athayde, mentre Jon Howie entra come CFO proveniente da Chuy's Holdings. Il portafoglio di ARB include ora marchi regionali: Primanti Bros., P.J. Whelihan's, Mambo Seafood, Pollo Tropical e Tavern in the Square.
Tavern in the Square, con sede nel New England, riceverà supporto operativo, capitale strategico e risorse tecnologiche da ARB per promuovere la crescita nei mercati principali e adiacenti, mantenendo l'integrità del marchio e l'esperienza culinaria locale.
Authentic Restaurant Brands (ARB) ha anunciado la adición de Tavern in the Square a su portafolio a través de la recapitalización de Broadway Hospitality Group. Esto marca la quinta adquisición de ARB en cinco años, haciendo crecer la plataforma a aproximadamente $1 mil millones en ingresos anuales y más de $150 millones en EBITDA.
En una transición de liderazgo, Alex Macedo ha sido nombrado Presidente y CEO, reemplazando a Felipe Athayde, mientras que Jon Howie se une como CFO proveniente de Chuy's Holdings. El portafolio de ARB ahora incluye marcas regionales: Primanti Bros., P.J. Whelihan's, Mambo Seafood, Pollo Tropical y Tavern in the Square.
Tavern in the Square, con sede en Nueva Inglaterra, recibirá apoyo operativo, capital estratégico y recursos tecnológicos de ARB para impulsar el crecimiento en mercados clave y adyacentes, manteniendo la integridad de la marca y la experiencia gastronómica local.
Authentic Restaurant Brands (ARB)는 Broadway Hospitality Group의 자본 재구성을 통해 Tavern in the Square를 포트폴리오에 추가했다고 발표했습니다. 이는 ARB의 5년 동안 다섯 번째 인수로, 플랫폼의 연간 매출을 약 10억 달러로, EBITDA는 1억 5천만 달러 이상으로 성장시킵니다.
리더십 전환에서 Alex Macedo가 의장 겸 CEO로 임명되어 Felipe Athayde를 대체했으며, Jon Howie는 Chuy's Holdings에서 CFO로 합류합니다. ARB의 포트폴리오에는 이제 Primanti Bros., P.J. Whelihan's, Mambo Seafood, Pollo Tropical 및 Tavern in the Square와 같은 지역 브랜드가 포함됩니다.
뉴잉글랜드에 본사를 두고 있는 Tavern in the Square는 ARB로부터 운영 지원, 전략적 자본 및 기술 자원을 받아 핵심 및 인접 시장에서 성장을 촉진하며 브랜드의 무결성과 지역 식사 경험을 유지할 것입니다.
Authentic Restaurant Brands (ARB) a annoncé l'ajout de Tavern in the Square à son portefeuille grâce à la recapitalisation de Broadway Hospitality Group. Cela marque la cinquième acquisition d'ARB en cinq ans, faisant croître la plateforme à environ 1 milliard de dollars de revenus annuels et plus de 150 millions de dollars d'EBITDA.
Dans une transition de leadership, Alex Macedo a été nommé Président et CEO, remplaçant Felipe Athayde, tandis que Jon Howie rejoint en tant que CFO en provenance de Chuy's Holdings. Le portefeuille d'ARB comprend désormais des marques régionales : Primanti Bros., P.J. Whelihan's, Mambo Seafood, Pollo Tropical et Tavern in the Square.
Tavern in the Square, basé en Nouvelle-Angleterre, recevra un soutien opérationnel, un capital stratégique et des ressources technologiques d'ARB pour favoriser la croissance sur les marchés clés et adjacents, tout en maintenant l'intégrité de la marque et l'expérience culinaire locale.
Authentic Restaurant Brands (ARB) hat die Hinzufügung von Tavern in the Square zu seinem Portfolio durch die Rekapitalisierung der Broadway Hospitality Group bekannt gegeben. Dies markiert die fünfte Akquisition von ARB in fünf Jahren und lässt die Plattform auf etwa 1 Milliarde Dollar Jahresumsatz und über 150 Millionen Dollar EBITDA wachsen.
In einem Führungswechsel wurde Alex Macedo zum Vorsitzenden und CEO ernannt und ersetzt Felipe Athayde, während Jon Howie von Chuy's Holdings als CFO hinzukommt. Das Portfolio von ARB umfasst nun regionale Marken: Primanti Bros., P.J. Whelihan's, Mambo Seafood, Pollo Tropical und Tavern in the Square.
Das im New England ansässige Tavern in the Square wird von ARB operative Unterstützung, strategisches Kapital und technologische Ressourcen erhalten, um das Wachstum in Kern- und angrenzenden Märkten voranzutreiben und gleichzeitig die Markenintegrität und das lokale Speiseerlebnis zu wahren.
- Platform reaches $1B annual revenue milestone
- Strong EBITDA of over $150M
- Strategic acquisition expands regional presence
- New leadership brings extensive industry experience
- Consistent growth with 5 acquisitions in 5 years
- CEO transition may cause temporary operational disruption
- Integration costs and risks with new acquisition
ARB’s Portfolio of Regional Restaurant Brands Reaches
Alex Macedo named Chief Executive Officer; Jon Howie named Chief Financial Officer
The transaction, ARB’s fifth in five years, grows the ARB platform to approximately
“Tavern in the Square is a New England institution renowned for its exceptional food, guest loyalty and deep local roots. It’s exactly the type of brand that aligns and will thrive within our portfolio of authentic restaurant brands,” said Alex Macedo, Chairman and Chief Executive Officer of ARB. “This is what ARB does best. We identify standout, regional brands, equip them with access to industry-leading technology, data analytics and operational expertise and unlock new growth levers, all while preserving the integrity and defining characteristics of the brand. We look forward to partnering with BHG’s CEO Stephen DeSousa and his team to build on their impressive track record.”
Stephen DeSousa, CEO of Broadway Hospitality Group, said, “With ARB as our partner, we gain the best of all worlds – access to the capital, expertise and best practices to make us even better – without sacrificing guest experience, so we can continue delivering exceptional local dining experiences. I am thrilled to be working with ARB’s team to capitalize on the significant opportunities and white space ahead.”
ARB’s portfolio also includes regional fortress brands: Primanti Bros. Restaurant & Bar, based in
Leadership Transition
As part of today’s announcement, Alex Macedo has been appointed Chairman and Chief Executive Officer of ARB, and Jon Howie has been appointed Chief Financial Officer.
Mr. Macedo, formerly Lead Operating Partner at GSP, is the Co-Founder and current Executive Chairman of ARB. He replaces departing CEO, Felipe Athayde. Mr. Macedo brings over two decades of marketing and operations experience in consumer businesses to ARB, having previously held senior executive roles at global brands, including Global President of Tim Horton’s and President of Burger King North America.
Mr. Howie joins from Chuy’s Holdings, Inc., where he served as Chief Financial Officer from 2011 through to its sale to Darden (NYSE:DRI) in Q4 2024 and was also a member of the board of directors. Mr. Howie brings over three decades of restaurant experience having previously held senior executive roles with Lone Star Steakhouse & Saloon, Inc and Del Frisco’s Restaurant Group, Inc.
Matt Perelman, Managing Partner and Co-Founder of Garnett Station, said, “Felipe has played a pivotal role establishing and growing ARB from concept to billion-dollar platform. We are grateful for his significant contributions and wish him every success in his next endeavor. As we look ahead, ARB is primed to build on this momentum, benefiting from Alex’s global operational expertise and Jon’s public company experience as we continue to scale the platform and drive industry-leading performance across our brands.”
Mr. Macedo added, “Having been a part of ARB since the beginning, it’s amazing to see the rapid growth the team has accomplished in just five years under Felipe’s leadership. As we enter this next phase, I’m excited to deepen my role in advancing our strategy as we continue to leverage strong free cash flow to scale the platform, while supercharging leading regional restaurant concepts within their distinct markets.”
Mr. Howie commented, “The caliber of ARB’s brands and the sophistication of the platform stands out in the industry today and I am honored to join a team of visionary operators at this exciting time. I look forward to supporting our brands to deliver best in class financial performance, while supporting the next chapter of growth for ARB.”
About Alex Macedo
Alex Macedo is the Co-Founder, Chairman & CEO of Authentic Restaurant Brands. He was formerly the Lead Operating Partner at Garnett Station Partners, a
Mr. Macedo was a board member of Brinker International (NYSE: EAT), one of the leading casual dining restaurant companies, from 2021 to 2022. He received a B.A. from New York University’s Leonard N. Stern School of Business and an M.B.A. from INSEAD.
About Jon Howie
Jon W. Howie joins ARB from Chuy’s Holdings, Inc., where he served as Chief Financial Officer since August 2011, Vice President since April 2013 and member of the board since May of 2018. Prior to Chuy’s, Mr. Howie served as the Chief Financial Officer of Del Frisco's Restaurant Group, Inc. from March 2007 to July 2011. During his seven-year tenure at Lone Star Steakhouse & Saloon, Inc., he served as Chief Financial Officer, Chief Accounting Officer and Controller. Earlier in his career, he was in several professional roles at Grant Thornton, LLP and Ernst & Young LLP. Mr. Howie is a Certified Public Accountant.
About Authentic Restaurant Brands
Authentic Restaurant Brands is a platform of powerhouse, regional restaurant brands with extraordinary customer brand loyalty and rich, authentic stories. Established in 2021, ARB is a Garnett Station Partners portfolio company currently comprised of five market-leading, iconic brands, each with over 25-year operating histories, including Primanti Bros Restaurant & Bar, based in
ARB is strongly committed to growing each of our brands by leveraging their respective foundations, while sharing best practices across our portfolio under our common ownership. For more information, please visit www.authenticrb.com.
About Broadway Hospitality Group
Broadway Hospitality Group (BHG) is a full-service hospitality management company headquartered in
Each restaurant within the BHG family has its own distinct identity, but all share a commitment to delivering exceptional guest experiences tailored to the neighborhoods they serve. BHG is dedicated to excellence, aiming to exceed expectations with every visit and provide guests with an unforgettable experience.
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Source: Authentic Restaurant Brands
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