Fortress Appoints Damola Adamolekun as CEO of RL Investor Holdings LLC
Fortress Investment Group has appointed Damola Adamolekun as CEO of RL Investor Holdings , a new entity seeking bankruptcy court approval to acquire the Red Lobster restaurant chain. This acquisition is part of a Chapter 11 plan for Red Lobster, with RL Investor Holdings created by funds managed by Fortress affiliates and co-investors TCW Private Credit and Blue Torch. Upon court approval, Adamolekun will become CEO of the reorganized company, which will continue to operate independently with 544 locations across 44 U.S. states and four Canadian Provinces. Adamolekun aims to reinvigorate the brand by improving employee and guest experiences. Fortress, known for its track record in operating and improving iconic American restaurants, views Adamolekun's leadership as key to restoring Red Lobster's status as an iconic American brand.
Fortress Investment Group ha nominato Damola Adamolekun come CEO di RL Investor Holdings, una nuova entità che cerca l'approvazione del tribunale fallimentare per acquisire la catena di ristoranti Red Lobster. Questa acquisizione fa parte di un piano Chapter 11 per Red Lobster, con RL Investor Holdings creata da fondi gestiti da affiliati di Fortress e co-investitori TCW Private Credit e Blue Torch. Una volta ottenuta l'approvazione del tribunale, Adamolekun diventerà CEO della società riorganizzata, che continuerà a operare in modo indipendente con 544 sedi in 44 stati americani e quattro province canadesi. Adamolekun mira a rilanciare il marchio migliorando le esperienze dei dipendenti e degli ospiti. Fortress, nota per la sua esperienza nella gestione e nel miglioramento di ristoranti iconici americani, considera la leadership di Adamolekun fondamentale per ripristinare lo status di Red Lobster come marchio iconico americano.
Fortress Investment Group ha nombrado a Damola Adamolekun como CEO de RL Investor Holdings, una nueva entidad que busca la aprobación del tribunal de quiebras para adquirir la cadena de restaurantes Red Lobster. Esta adquisición es parte de un plan del Capítulo 11 para Red Lobster, con RL Investor Holdings creada por fondos gestionados por afiliados de Fortress y co-inversores TCW Private Credit y Blue Torch. Tras la aprobación del tribunal, Adamolekun se convertirá en CEO de la empresa reorganizada, que seguirá operando de forma independiente con 544 ubicaciones en 44 estados de EE. UU. y cuatro provincias canadienses. Adamolekun tiene como objetivo revitalizar la marca mejorando la experiencia de empleados y invitados. Fortress, conocida por su trayectoria en la operación y mejora de restaurantes icónicos estadounidenses, ve el liderazgo de Adamolekun como clave para restaurar el estatus de Red Lobster como una marca icónica de EE. UU.
Fortress Investment Group는 Damola Adamolekun을 RL Investor Holdings의 CEO로 임명했습니다. 이 새로운 기업은 Red Lobster 레스토랑 체인을 인수하기 위해 파산 법원의 승인을 요청하고 있습니다. 이 인수는 Red Lobster를 위한 챕터 11 계획의 일환으로, RL Investor Holdings는 Fortress의 계열사와 공동 투자자 TCW Private Credit, Blue Torch가 관리하는 자금으로 구성되었습니다. 법원의 승인을 받으면 Adamolekun은 재조직된 회사의 CEO가 되어, 44개 미국 주와 4개 캐나다 주에서 544개 매장을 독립적으로 운영할 것입니다. Adamolekun은 직원과 손님 경험을 개선하여 브랜드를 재활성화하는 것을 목표로 하고 있습니다. Fortress는 상징적인 미국 레스토랑 운영 및 개선에 대한 실적로 유명하며, Adamolekun의 리더십을 Red Lobster의 아이코닉한 미국 브랜드로서의 지위를 회복하는 데 중요한 역할로 보고 있습니다.
Fortress Investment Group a nommé Damola Adamolekun comme PDG de RL Investor Holdings, une nouvelle entité cherchant à obtenir l'approbation du tribunal de la faillite pour acquérir la chaîne de restaurants Red Lobster. Cette acquisition fait partie d'un plan de Chapitre 11 pour Red Lobster, RL Investor Holdings ayant été créée par des fonds gérés par des affiliés de Fortress et les co-investisseurs TCW Private Credit et Blue Torch. Une fois approuvée par le tribunal, Adamolekun deviendra PDG de l'entreprise réorganisée, qui continuera à fonctionner de manière indépendante avec 544 emplacements dans 44 États américains et quatre provinces canadiennes. Adamolekun vise à revitaliser la marque en améliorant l'expérience des employés et des clients. Fortress, connue pour son expérience dans l'exploitation et l'amélioration de restaurants américains emblématiques, considère le leadership d'Adamolekun comme essentiel pour restaurer le statut de Red Lobster en tant que marque emblématique américaine.
Fortress Investment Group hat Damola Adamolekun zum CEO von RL Investor Holdings ernannt, einer neuen Einheit, die die Genehmigung des Insolvenzgerichts anstrebt, um die Restaurantkette Red Lobster zu übernehmen. Diese Übernahme ist Teil eines Chapter 11 Plans für Red Lobster, wobei RL Investor Holdings von Fonds, die von Fortress-Affiliates und Co-Investoren TCW Private Credit und Blue Torch verwaltet werden, gegründet wurde. Nach Genehmigung des Gerichts wird Adamolekun CEO des reorganisierten Unternehmens, das weiterhin unabhängig mit 544 Standorten in 44 US-Bundesstaaten und vier kanadischen Provinzen betrieben wird. Adamolekun zielt darauf ab, die Marke durch Verbesserung der Mitarbeiter- und Gästeerfahrungen zu revitalisieren. Fortress, bekannt für seine Erfolge beim Betrieb und der Verbesserung ikonischer amerikanischer Restaurants, sieht die Führung von Adamolekun als Schlüssel zur Wiederherstellung des Status von Red Lobster als ikonische amerikanische Marke.
- Potential acquisition of Red Lobster by RL Investor Holdings , backed by Fortress Investment Group
- Appointment of Damola Adamolekun as CEO, bringing new leadership to the company
- Continuation of Red Lobster's operations with 544 locations across North America
- Fortress's strong track record in operating and improving iconic American restaurants
- Red Lobster is currently undergoing bankruptcy proceedings
- The acquisition is pending bankruptcy court approval, indicating financial distress
Fortress is seeking court approval for RL Investor Holdings LLC to acquire Red Lobster out of bankruptcy
Damola Adamolekun, CEO of RL Investor Holdings LLC, a new entity that is seeking bankruptcy court approval to acquire from Red Lobster Management LLC and its direct and indirect operating subsidiaries (“Red Lobster” or “the Company”), the Red Lobster® restaurant chain. RL Investor Holdings LLC has been created by funds managed by affiliates of Fortress Investment Group LLC (“Fortress”), alongside co-investors TCW Private Credit and Blue Torch. (Photo: Business Wire)
RL Investor Holdings LLC is a new entity that is seeking bankruptcy court approval to acquire from Red Lobster Management LLC and its direct and indirect operating subsidiaries (“Red Lobster” or “the Company”), the Red Lobster® restaurant chain. RL Investor Holdings LLC has been created by funds managed by affiliates of Fortress Investment Group LLC (“Fortress”), alongside co-investors TCW Private Credit and Blue Torch.
Upon court approval of the Red Lobster Chapter 11 plan, Damola Adamolekun will become CEO of the reorganized Company.
Red Lobster will continue to operate as an independent company, with 544 locations across 44 U.S. states and four Canadian Provinces.
“Red Lobster is an iconic brand with a tremendous future. I’m looking forward to working with our team members across
“We’re excited to bring Damola on board to drive our investment plan for Red Lobster,” added Morgan McClure, Managing Director at Fortress. “Fortress has a strong track record of operating and improving iconic American restaurants, and Damola’s energy, leadership and experience will be key to restoring Red Lobster’s status as an iconic and admired American brand.”
About Damola Adamolekun
Damola Adamolekun is the former Chief Executive Officer of the global restaurant chain P.F. Chang’s, where he led the company in strategic initiatives ensuring the continued growth and success of one of the most important hospitality brands in the world.
Mr. Adamolekun also previously served as Chief Strategy Officer at P.F. Chang’s and as a Partner at Paulson & Co., a
Mr. Adamolekun has been featured in numerous publications including Forbes, Fortune, Business Insider, Fox Business, Bloomberg News, Yahoo Finance, CNBC, Nation’s Restaurant News, Time Out
Previously, Mr. Adamolekun has worked in the Investment Banking Division of Goldman Sachs and as a Private Equity Associate at TPG Capital. Mr. Adamolekun has served on the board of P.F. Chang’s, Inday, the National Restaurant Association, and International Tower Hill Mines (NYSE: THM).
In 2021, Mr. Adamolekun was recognized with three GLOBEE Leadership Gold awards for CEO of the Year: Food and Beverage, CEO of the Year: Hospitality, Travel, Recreation, Leisure, and Top CEO of the Year: The
Mr. Adamolekun received a Bachelor of Arts in Economics and Political Science from Brown University, where he served as President of the Brown Investment Group and was a member of the Ivy League champion Brown Football team, and a Master of Business Administration from Harvard Business School, where he served as Portfolio Manager for the HBS Investment Club.
Fortress’s experience in reviving iconic American restaurants
Fortress has significant experience in the restaurant and hospitality industry. Fortress-backed SPB Hospitality is a leading operator and franchisor of full-service dining restaurants, spanning a national footprint of hundreds of restaurants and breweries.
In 2020, SPB Hospitality acquired Craftworks Holdings out of bankruptcy, taking over management of nine restaurant chains including Logan’s Roadhouse, Old Chicago Pizza & Taproom. In 2021, SPB Hospitality acquired J. Alexander’s Inc., a publicly traded restaurant company with 47 restaurants and the J. Alexander’s and Stoney River Steakhouse brands.
Today, SPB Hospitality’s diverse portfolio of restaurant brands includes Logan’s Roadhouse, J Alexander's, Stoney River, Old Chicago Pizza & Taproom, and a collection of restaurant-brewery brands, including Rock Bottom Restaurant & Brewery and Gordon Biersch Brewery Restaurant.
SPB Hospitality also operates a collection of specialty restaurant concepts including ChopHouse & Brewery, Big River Grille & Brewing Works, AIA Ale Works Restaurant & Taproom, Ragtime Tavern Seafood & Grill, and Seven Bridges Grille & Brewery.
In July 2024, SPB Hospitality acquired the Amada and Village Whiskey brands, conceived and run by James Beard Award-winner, entrepreneur, and food innovator, Chef Jose Garces.
About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages
View source version on businesswire.com: https://www.businesswire.com/news/home/20240826826912/en/
Mark Lane, Fortress Investment Group, cell +1 917.842.4228
Source: Fortress Investment Group
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