Industry News | December 3, 2007

Togo's Sold

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Mainsail Partners, a private equity firm located in San Francisco, today announced the acquisition of Togo's Eateries, the master franchisor of a fast-casual sandwich chain on the West Coast, from Canton, Massachusetts-based Dunkin' Brands, Inc., the parent company of Dunkin' Donuts and Baskin-Robbins. Financial details of the transaction, which was closed on Friday, November 30, have not been released.

With its recent acquisition of Togo's, Mainsail now holds six portfolio companies, which range across services and software. "Togo's represents a significant opportunity for Mainsail Partners," said Jason Payne, managing partner, Mainsail Partners. "It is a well respected brand and we look forward to growing the business in the coming years through great service to our franchisees."

Since Togo's opened its first location nearly 40 years ago in San Jose, California, the company has grown extensively and created strong brand awareness. Headquartered in San Jose, there are 261 Togo's establishments throughout the western United States.

"Mainsail has acquired Togo's in partnership with Tony Gioia, an experienced franchise leader," said Jon Luther, chairman and chief executive officer of Dunkin' Brands, Inc. "Tony and his partners at Mainsail have tremendous passion for the Togo's brand. I feel gratified knowing that the company is in great hands, with people who love it and are committed to helping it flourish."

Tony Gioia will serve as chairman and chief executive officer of Togo's Holdings, LLC. Mr. Gioia was an executive with the predecessor company to Dunkin' Brands from 1990 to 1999, during which time he was president of Baskin-Robbins and sat on the corporation's Retailing Executive Board. "I am thrilled to team with Mainsail Partners to acquire Togo's Eateries," said Tony Gioia. "Togo's has a long and rich history of serving great food, while providing an inviting atmosphere to its guests. I'm looking forward to working with the Togo's management team and the franchisee community to enable long term success for the brand and the retail system."