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Garden Fresh Restaurant Corp. is a privately-held chain of buffet style restaurants operating under two brands: Souplantation and Sweet Tomatoes. Garden Fresh Restaurant Corp. was founded in 1983 by Michael Mack; however the first Souplantation restaurant was opened in 1978. The restaurants offer a menu consisting pasta, soups, breads, fresh fruit as well as specialty and prepared salads. Headquartered in San Diego, California, Garden Fresh Restaurant Corp. manages 112 company-owned restaurants across 15 states in the US, as of 2010. Private equity firm Sun Capital Partners and Garden Fresh management own Garden Fresh Restaurant Corp.
| Company Tags: | PE Backed |
| Year Founded: | 1983 |
| Fiscal Year End: | 09/30 |
| 1YR Revenue Growth Rate: | View % |
| 3YR Revenue Growth Rate (CAGR): | View % |
| 1YR Employee Growth Rate: | View % |
| 3YR Employee Growth Rate (CAGR): | View % |
| City: | San Diego |
| State/Province: | California |
| Country: | United States |
| Phone: | View |
| Fax: | View |
| Websites: | www.souplantation.com www.sweettomatoes.com |
| Twitter: | http://www.twitter.com/garden_fresh |
| Parent Companies: | Garden Fresh Holdings, Inc. |
| Brands: | Souplantation Sweet Tomatoes |
| Founders: | Anthony Brooke Michael P. Mack |
| Hospitality & Leisure > Restaurants > Casual Dining Restaurants |
| Hospitality & Leisure > Restaurants > Dessert-Only Restaurants |
The PrivCo Industry Classification System™ (PICS) is our proprietary, modernized industry classification system, geared especially toward privately-held companies and including newer emerging sub-industries that are not reflected in other outdated industry classification systems, such as SIC and NAICS.
Export All Garden Fresh Restaurant Corp. Financials To Excel
$99 Single Company AccessInstant Full Site-Wide Access| Income Statement | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 |
| Revenues | View | View | View | View | View | View | $244,000,000 | $230,000,000 | $220,489,000 | $214,296,000 | |
| Employee Figures | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 |
| Total Employees | View | View | View | View | View | View | View | 5,500 | 5,450 | 5,420 | 5,400 |
| Productivity (Revenue/Employee) | View | View | View | View | View | View | $44,364 | $42,202 | $40,681 | $39,684 | |
| Location Statistics | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 |
| Total Locations | View | View | View | View | View | View | 97 |
| Financial Notes: | |
| * | Garden Fresh Restaurant Corp. fiscal year end: 09/30 |
Export All Garden Fresh Restaurant Corp. Financials To Excel
$99 Single Company AccessInstant Full Site-Wide AccessGarden Fresh Restaurant Corp. Revenues ($ MM): |
Garden Fresh Restaurant Corp. Total Employees: |
Garden Fresh Restaurant Corp. Productivity (Revenue/Employee) ($): |
Garden Fresh Restaurant Corp. Total Locations: |
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$99 Single Company AccessInstant Full Site-Wide Access| Date | Status | Target | Buyer | Deal Type | Price | |
| Details | Mar. 2004 | Completed | Garden Fresh Restaurant Corp. | Fairmont Capital, Inc. Centre Partners Management, LLC | Acquisition Take Private | $94,800,000 |
| Details | Oct. 2005 | Completed | Garden Fresh Restaurant Corp. | Sun Capital Partners, Inc. | Acquisition | $198,000,000 |
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$99 Single Company AccessInstant Full Site-Wide Access| Date | Deal Type | Action | Resulting Status | Valuation | Amount Raised | Public Ticker | |
| Details | Apr. 1995 | IPO | Final (Went Public) | Public1 | $15,000,000 | LTUS | |
| Details | Mar. 2004 | Acquisition Take Private | Take Private | Private |
| 1 | Taken private in 2004 - Details → |
$99 Single Company AccessInstant Full Site-Wide AccessOverview
Garden Fresh Corp. was incorporated in 1983 by CEO Michael Mack and partner Anthony Brooke. The company operates two chain buffet style restaurants: Souplantation and Sweet Tomatoes. Souplantation locations are mostly in Southern California markets while Sweet Tomatoes locations are found in Florida, Arizona, Colorado, Georgia, Illinois, Kansas, Missouri, Nevada, New Mexico, North Carolina, Oregon, Texas, Utah, and Washington.
History
1995 IPO
Garden Fresh went public in 1995, offering 1.5 million shares of common stock for approximately $10 a share. However, despite the extra $140 million cash inflow, the company’s profit declined constantly until it dipped deep into the red in the first quarter of 2004. The company reported a loss of $204,000, or 3 cents a share, on revenue of $52.1 million for the quarter ended. Dec. 31. On September 30th, Fairmont Capital announced that it would acquire Garden Fresh for $16.35 a share. And five months later, Fairmount Capital… Continue Reading →
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