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Champaign, IL (January 3, 2007) – Jimmy John’s Gourmet Sandwich Shops (“Jimmy John’s”) announced an investment in Jimmy John’s by Weston Presidio, a leading private equity firm known for investments in high growth, branded consumer businesses. Include Restoration Hardware, JetBlue Airways, Fender Instruments, Guitar Center, Papyrus, and Wild Oats Markets. Jimmy John’s is America’s # 1 sandwich delivery chain and one of the fastest growing restaurant chains in the country. Jimmy John’s specializes in consistent high speed sandwich delivery, the only fast casual brand in the restaurant niche, and has been perfecting fresh sandwich delivery for over 20 years. Jimmy John's Gourmet Sandwich Shops is unlike any sub shop in the industry — no games or gimmicks, just old-fashioned, homemade sandwiches made from fresh-baked bread and all-natural meats and vegetables that are sliced daily at each restaurant and delivered with exceptional speed.
Jimmy John’s founder, largest shareholder and Chairman, Jimmy John Liautaud will continue to own and manage the company along with President James North and their experienced team. Jimmy John chose Weston Presidio as a strategic partner, stating “Weston Presidios’ track record is undisputable. They are retail specialists first, and they will add significant depth to the strategic planning and infrastructure needed to continue our explosive growth. They have done it before many times and we welcome them into our high-speed efficient culture. Together we will take Jimmy John’s to the next level.”
Michael Lazarus, Managing Partner of Weston Presidio, said, “Jimmy John’s is a perfect match for our strategy of backing successful entrepreneurs in highly loyal, customer-driven businesses. Jimmy has built a tremendous brand, attracting motivated employees and franchisees, while building ‘cult-like’ consumer loyalty by delivering the best sub sandwiches to consumers in a fast-paced, entertaining environment. We will assist Jimmy with our experience navigating high growth consumer businesses through national expansion.”
Adds Jeff Mills, Partner of Weston Presidio, “Jimmy, James, their team and their franchisees have built one of the most exciting restaurant businesses we have come across. Our partnership through this investment will allow Jimmy John’s to continue to execute its national roll-out while supporting that growth with organizational excellence, a commitment to its franchisee’s success and delivering on its customer’s need for fast, great subs.”
“We are pleased to announce that we have partnered with such a world class organization. This transaction has generated value for Jimmy John’s as a company and, most important, it strengthens our ability to recruit the best in class employees in the segment. Our product is genuinely homemade and executed in an extremely fast & disciplined environment.” said James North, President of Jimmy John’s. “Weston Presidio has demonstrated an in-depth understanding of our business, has worked successfully alongside entrepreneurial management teams and will be valuable advisors as we continue to generate outstanding results.”
About Jimmy John’s Gourmet Sandwich Shops
Jimmy John's Gourmet Sandwich Shops was founded in 1983 by 19-year-old Jimmy John Liautaud in a converted garage in Charleston, Illinois. The company has become one of the country’s leading, fastest growing sandwich restaurant chains and has grown over the last twenty years to more than 475 corporate and franchised locations in 34 states. The company offers its streamlined menu of fresh baked bread, high quality ingredients, made-to-order sandwiches, all prepared at exceptional speed, to its highly loyal customers. Jimmy John’s niche is sandwich delivery, something they have perfected. The company is known for its obsession with fresh, quality products and high-speed execution and for its fun and irreverent marketing and in-store environment.
For more information, visit www.jimmyjohns.com and www.superhappyfunseal.com
About Weston Presidio
Weston Presidio (www.westonpresidio.com) , founded in 1991, provides growth capital to companies across a wide range of industries and stages of development throughout the United States and Canada. With locations in San Francisco, Boston and Menlo Park, the Weston Presidio team has helped identify, build and maximize value in over 300 leading growth companies. With over $3.3 billion under management and an extensive network of industry contacts, Weston Presidio provides its portfolio companies with both strategic guidance and financial support. Weston Presidio seeks to partner first and foremost with exceptional management teams capable of building long-term value.
About North Point Advisors
North Point Advisors (www.nptadvisors.com) served as financial adviser to Jimmy John’s.
All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.
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