06/07/2023
Citizens Advises on Sale of 48 Arby’s locations in Washington, Oregon and Southern California
Citizens Advises on Sale of 48 Arby’s locations in Washington, Oregon and Southern California
PROVIDENCE, RI – Trinity Capital, a division of Citizens Capital Markets, announced today that it served as the exclusive financial advisor to a California-based franchisee group managed by the Lutfi Family on the sale of 48 Arby’s restaurants located in Washington, Oregon and Southern California. The restaurants were acquired by Luke Pisors, who once served as the regional vice president for the Arby’s brand. Pisors, through his Vancouver, WA-based company, Ambrosia QSR Beef, LLC, will operate the acquired locations, along with other restaurants they control with affiliated companies.
“Citizens is a partner committed to helping clients achieve their goals and, in this case, we were able to negotiate a way for the Lutfi family to remain involved firsthand with Arby’s by retaining the operations of a key location in their hometown,” said David Stiles, managing director at Trinity. “Tony (Lutfi) has been associated with Arby’s for more than 35 years and is extremely passionate about helping the brand and his fellow franchisees. The Lutfi family intends to focus on passive investments in the near future while serving their own community in Elk Grove, CA.”
Tony Lutfi said: “My family and I want to offer our warmest wishes to Ambrosia QSR, along with their team and partners. I also want to recognize the entire team of Trinity for having the patience in working with us to achieve this outcome; always handling matters with the highest standards of integrity and diligence. I cannot say enough for the appreciation we have for David’s advice and counsel.”
Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 100 M&A professionals specializing in a range of industries across the United States. Citizens Capital Markets, Inc., is a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $222.3 billion in assets as of March 31, 2023. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,400 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
###
