"Franchise-focused private equity firm Franchise Equity Partners (FEP) announced it acquired a majority stake in 7 Crew, the second-largest franchisee of the fast-growing U.S. coffee chain 7 Brew. With the deal, FEP said it is following through on plans to open more than 200 7 Brew drive-through locations across Texas, Florida, Oklahoma and New Mexico. Existing 7 Crew investors Masked Rider Capital and Red Sky Holdings are retaining significant equity stakes in 7 Crew, which currently operates approximately 50 7 Brew locations,"
"7 Brew, which was founded by Ron Crume in Northwest Arkansas with a single location, initially offering seven sweetened flavored coffee drinks on its menu, has become the fastest-growing chain in the U.S. over the past two years, according to Technomic market reports. The chain, which is focused on quick-service kiosks - often with multiple drive-through lanes - reported having 14 locations in 2021. As of earlier this year, the company said it had more than 460 locations."
Franchise Equity Partners acquired a majority stake in 7 Crew, the second-largest 7 Brew franchisee, to accelerate retail expansion. FEP plans to open more than 200 7 Brew drive-through locations across Texas, Florida, Oklahoma and New Mexico. Existing investors Masked Rider Capital and Red Sky Holdings are retaining significant equity stakes while 7 Crew currently operates approximately 50 locations. Financial terms of the majority-stake investment were not disclosed. 7 Brew was founded by Ron Crume in Northwest Arkansas and grew from 14 locations in 2021 to more than 460 earlier this year. Blackstone and Orangewood Partners have also invested to support expansion.
Read at Daily Coffee News by Roast Magazine
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