Brentwood Associates, a leading consumer-focused private equity investment firm, announced it has completed the sale of Pacific Island Restaurants Inc. (PIR), to Nimes Capital LLC. PIR is the sole franchisee of Pizza Hut and Taco Bell throughout Hawaii, Guam, and Saipan. Terms of the transaction were not disclosed.

Since acquiring PIR in 2004, Brentwood has worked with the PIR management team to help them build upon their very strong market positions in both brands. The company implemented one of the most successful call centers in the Pizza Hut system, while also opening six new restaurants and acquiring six restaurants. They have been able to capitalize on the strength of the Taco Bell and Pizza Hut brands to drive what has been a very successful investment.

“The PIR management team under Henry Katsuda’s leadership has done a tremendous job executing on the company's growth initiatives,” says Anthony Choe, partner at Brentwood. “We are confident the company will continue to thrive under new ownership.”

Rahul Aggarwal, managing director at Brentwood, adds: “PIR is one of the elite operators in the Yum! system, with incredible employee tenure and loyalty at all levels of the organization. It’s been a true pleasure working with them and our partners at Yum.”

“Brentwood has been an extremely supportive partner, providing us with the resources necessary for us to continue to build upon our success,” says PIR CEO Henry Katsuda. “We feel very well positioned for the future ahead with our new partners at Nimes.”

The exit of PIR marks the latest in what has been an active year for Brentwood. The firm has successfully exited three other investments in 2012: Array Marketing Group, Filson Holdings, and Ariat International. In addition, Brentwood also acquired two high-growth, multi-channel lifestyle brands: Soft Surroundings and Sundance.

Harris Williams & Co. acted as the exclusive advisor to PIR.