Golden Road Food Services, the parent to the Fresh Brothers pizza chain, has received an equity investment from Southern California investor group Nolan Capital Inc., announced Adam Goldberg, CEO and founder of Golden Road Food Services and Fresh Brothers. Nolan Capital is the family office of Peter Nolan, former managing partner and current senior advisor of Leonard Green & Partners, and focuses on making equity investments in leading growth companies.
The deal will allow Fresh Brothers to eliminate debt, and establish a foundation for new growth. Goldberg will continue to run day-to-day operations.
“The equity investment will help Fresh Brothers to expand to 50 locations within the next five years,” Goldberg says. “The 16-store chain will open two new locations before the end of the year in Southern California. Next year, eight to 10 locations are planned, including a possible move outside California.” The company is projecting more than $22 million in sales for fiscal 2016.
Joining Fresh Brothers’ board is Peter Nolan, who led the investor group. “Nolan Capital made the decision to partner with Fresh Brothers due to the company’s strong brand, differentiated concept and attractive four-wall economics,” Nolan says. The Nolan Capital deal follows a 2012 investment by Skechers shoe executive Michael Greenberg, who remains a stakeholder.
The first Fresh Brothers was opened in 2008 by Adam and Debbie Goldberg. Their goal was to take their traditional Chicago-style family recipes, originally created by Adam’s older brother, Scott, and give them a fresh, healthy California twist.
Fresh Brothers’ sauce is packed with 100percent fresh tomatoes, not concentrate. The mozzarella is all-natural with no fillers, additives, or preservatives. Nothing is ever fried; wings, bites, and tenders, even the fresh fries are baked. The Fresh Kids Special, as featured on “The Doctors” television show, has a mix of five different finely ground veggies blended into the pizza sauce.
For those following special diets, Fresh Brothers offers gluten-free and vegan options, including vegan cheese, vegan “chicken” bites, and even vegan ranch and blue cheese dressing. Fresh Brothers is also a nut-free restaurant.
Fresh Brothers was voted the LA Times “Best Pizza” in the South Bay, and named the “Best Pizza Restaurant” and the “Best Specialty Salad” in Easy Reader’s Best of the Beach. In addition, Fresh Brothers has received national accolades including “Independent Pizzeria of the Year” from Pizza Today.
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