Greene Holcomb Fisher Advises PNC Mezzanine Capital on the Acquisition of Sauce Pizza & Wine from Fox Restaurant Concepts
Greene Holcomb Fisher (“GHF”) is pleased to announce the successful acquisition of Sauce Pizza & Wine (“Sauce”), a fast-casual Italian brand owned by Phoenix-based Fox Restaurant Concepts LLC (“FRC”), by a group led by local restaurateur Scott Kilpatrick, local investor Todd Belfer and PNC Mezzanine Capital (“PNC”). Kilpatrick, the former co-founder of RA Sushi, will look to expand the concept in Arizona and beyond. GHF served as the exclusive financial advisor to Kilpatrick, Belfer and PNC. The terms of the deal were not disclosed.
Sauce Pizza & Wine opened its first location in 2003 and will open its tenth Arizona location in Central Phoenix later this year. Sauce is one of the most recognized fast-casual Italian concepts in Arizona and appeals to a broad base of customers with fresh and flavorful fare, served in a casual and hip setting. The menu has a large variety of options, including gourmet pizzas, pastas, salads and affordably priced wines.
“Sauce Pizza & Wine is an exceptionally strong brand, and we see significant opportunity for growth. As we move forward, we are committed to making the quality of food and service our No. 1 priority. Most importantly, we are dedicated to the long-term success of Sauce Pizza & Wine,” said Kilpatrick. Doug Brosius, a Partner at PNC added, “We are fortunate to have had the opportunity to partner with Scott, Todd and the rest of the outstanding Sauce team. FRC built a great concept, and we are excited to facilitate the next phase of growth for this dynamic brand.”
“We were thrilled to represent Scott, Todd and PNC in this great transaction. FRC built Sauce into a great Arizona brand, and we were fortunate to be able to facilitate a successful transaction for all parties,” stated Matt Greeson, a GHF Managing Director. “This is a great transaction for GHF’s Consumer Team and a great transaction for the Phoenix community.”
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