Industry News | January 2, 2013

Hawaii's Pizza Hut, Taco Bell Franchisee Sold

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.



I think that they need to revisit their resturants that they have acquired and also train ALL of their employees to be more focused on customer service, cleanliness, and especially well rehearsed in the company's SOP's. I just came from Pizza Hut in Liliha on the island of Oahu, and their managers were sitting down, their tables were not bused, I was asked 3 times by 3 seperate people how many in my party because they were looking for a clean table. I also ordered a salad because their salad looked so wilted on their buffet, when it finally came to me, the romaine lettuce was black, huge, and some even had holes in them. The tomatoes, which I didn't realize caesars salad came with them were looking just the same. We waited for 8 minutes for the next round of pizza for my son to eat at the buffet, but they never replaced the spaghetti, it looked liked it was from lunch, the alfredo ran out and they just left it empty. Whoever is in charge of Hawaii's Pizza Hut in Liliha, will soon loose its luster and customers because why should we have to pay for poor service when we can get better service, better quality of food from another place.

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