Pryor Cashman Client Acquires a Best in Class Fast Casual Restaurant
Pryor Cashman client TriSpan, a global Private Equity firm, recently announced its acquisition of Naya Group LLC, a best in class fast-casual Mediterranean restaurant chain. Rising Stars, TriSpan's restaurant platform, now has majority ownership of the chain. According to the announcement:
Anthony Freijy, a TriSpan Partner, said "Naya is a highly differentiated, marquee brand offering high quality, Middle Eastern/Mediterranean cuisine at a compelling price point to its customers. Despite the challenges posed by the current COVID 19 pandemic, the Company is exceptionally well placed with strong growth prospects. We are very excited to partner with Hady and Naya’s outstanding management team to help deliver on the Company’s strategic growth plan by providing the team the resources needed to rapidly scale the business in New York and other markets.”
The Pryor Cashman team was led by partners Richard Frazer (Restaurant, Food + Beverage) and Lawrence Spector (Corporate), along with Mollie Adam (Corporate). The team received support from partner Michael Dunworth (Tax), partner Bertrand Fry (Investment Management), partner Benjamin Teig (Leasing), counsel Matthew O. Young (Executive Compensation, ERISA & Employee Benefits), Taylor Weinstein (Tax), Shusmita Chowdhury (Investment Management).
