Giordano's

[George_Mills]

Deep-dish pizza chain Giordano’s is considering selling its operation, a move that could garner upwards of $100 million, Reuters reports, citing sources familiar with the matter.

Victory Park Capital Advisors, the private-equity firm that owns Giordano’s, has hired investment bank Piper Jaffray to manage the sale, Reuters says.

The 50-unit Chicago-based chain was acquired by Victory Park Capital for close to $52 million as part of a bankruptcy buyout in 2011.

George Mills

 

[d9phoenix]

Banker hiring another banker to sell something neither of them actually know how to run… this sounds like the norm these days.

 

[Joe]

Giordano’s could be so much better than they are. Never had the right leadership but still have a premium name. I’d buy them but the price would have to come down slightly

 

[Piedad]

Banker hiring another banker to sell something neither of them actually know how to run… this sounds like the norm these days.

Yep, it’s not really all about the food, or operating efficiency, when you are selling (or buying) a 50 unit company … it’s all about the numbers and multiples … stuff bankers usually understand better than dough-throwers. A nice little $48 million return flip 5 years later.

 

[d9phoenix]

Just like wall street … and everyone who contributed to that success will be ignored or fired after the sale.