In December 2019, Eureka Restaurant Holdings ("Eureka!" or the “Company"), a portfolio company of KarpReilly, LLC (“KarpReilly”), completed a majority recapitalization with Carolo Corporation (“Carolo”).
Duff & Phelps served as sell side advisor to Eureka! in connection with the transaction.
Eureka! is an operator of bar forward and hyper-local polished casual restaurants. Eureka! encourages its guests to discover and explore its scratch kitchen, 100% American small-batch bar program, handcrafted award-winning cocktails, live music and contagious positive energy. Eureka! has opened 26 restaurants over the past 10 years across six states, executing a flexible real estate strategy, designing each restaurant to feel like the “go-to” neighborhood joint. Eureka! takes pride in its deliberate pursuit of genuine connections with every guest and every community it partners with. Ropes & Gray LLP served as legal counsel to Eureka!.
KarpReilly, LLC is a private investment firm, founded by Allan Karp and Chris Reilly, whose primary mission is to partner with premier small to mid-size consumer growth companies and help them achieve their long-term vision. Over the past 10 years, the principals of KarpReilly have invested in, sat on the boards of and nurtured over 25 consumer growth companies.
Grupo Carolo is a culture-driven operator of premium casual dining restaurants in Mexico. Carolo was founded in 2007 and operates 80 restaurants under the Gomcarlu, Le Macaron, Only O and Aromas Café brands. The Company was founded as a single deli/bakery and has since grown into a recognized and popular premium casual dining chain. Carolo’s mission is to deliver a complete lifestyle experience so that guests may share quality time with family and friends, enjoy the best food, and receive high quality service in a modern environment. The majority recapitalization of Eureka! gives Carolo a U.S.based platform to continue to grow its brand. Caype Abogados served as legal counsel to Grupo Carolo.