03/14/2023
Citizens Advises on Sale of 30 Jack in the Box and 27 Jamba Juice Franchises in Hawaii and Guam
PROVIDENCE, RI – Trinity Capital, a division of Citizens Capital Markets, announced today that it served as the exclusive financial advisor to Scanlan Management LLC & Blue Pacific Guam LLC, a franchisee of Jack in the Box, on its sale to PARS Group, LLC and as the exclusive financial advisor to JJC Hawaii LLC, a licensee of Jamba, on its sale to Fresh Dining Concepts.
Seattle-based Jack in the Box franchisee, PARS Group LLC, acquired 28 Jack in the Box restaurants in Hawaii and two in Guam, plus two locations in various stages of being developed and opened on Oahu and Guam. Miami-based Fresh Dining Concepts, the largest franchisee of Focus Brands, acquired 27 Jamba locations in Hawaii, plus four locations in various stages of being developed and opened on Oahu and Maui, including the brand’s first drive-thru only location.
Chris Scanlan, chief executive officer at Scanlan Management LLC, said: “We are proud of the organization we have built and its success. We are also proud to have provided opportunities to hundreds of local employees for the last 15 years.”
He added: “In addition, we could not be more impressed with Trinity’s capabilities in advising us in completing the sale of our companies. They were incredibly meticulous and thoughtful when it came to recommending solutions to the numerous complex issues that we faced throughout the transactions. Their forward-thinking analytical expertise, integrity and the discretion they displayed to our team and our franchise partners were second to none and proved to be invaluable in optimizing the outcome for our sale process. We cannot express enough our gratitude for their passion, persistence and guidance. We would enthusiastically recommend that anyone considering a transaction hire Trinity as their advisor.”
Citizens Managing Director Kevin Burke said: “We have a 20-year relationship with Chris and are honored to have been chosen to assist him in this important transaction.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 150 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., 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 $226.7 billion in assets as of December 31, 2022. 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 3,300 ATMs and approximately 1,200 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.
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