Sell Side Advisor

Duff & Phelps Consumer M&A Team Advised Eureka Restaurant Holdings on its Majority Recapitalization with Carolo Corporation


a portfolio company of

KarpReily LLC

has completed a majority recapitalization with

Grupo Carolo

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Josh Benn
Josh Benn
Head of Americas M&A Advisory and Global Head of Consumer Corporate Finance
New York
Farzad Mukhi is a director at Duff & Phelps.
Farzad Mukhi
Managing Director
Consumer Investment Banking
Los Angeles
Vijay Sampath
Vijay Sampath
Managing Director
Consumer Investment Banking
New York

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.

About Eureka!
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!.

About KarpReilly
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. 

About Carolo
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.

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