Chevy Chase, Md. – Farragut Capital Partners, Inc. (“Farragut”) is pleased to announce a $6.54 million investment in InterOcean Coffee Co., LLC (“InterOcean Coffee” or “the Company”), a Dunkin’ Donuts franchisee operating seventeen stores in the Phoenix, Arizona market. The transaction, which closed in late 2014, recapitalizes initial investors and provides capital to open additional locations.
InterOcean Coffee is led by a team of highly experienced operators who have successfully run a number of multi-unit franchises over the past three decades, including other Dunkin’ Donuts, Blockbuster Video, Einstein Brothers Bagels, and Boston Chicken locations. In 2008, CEO Hank Huth signed a deal with Dunkin’ Donuts to help develop the Phoenix market as part of the brand’s push outside of New England and into the western half of the United States. InterOcean Coffee’s locations are among the highest rated stores in the western U.S. for both customer service and profitability, thanks in large part to the team’s operating focus and innovative marketing approach.
“Dunkin’ Donuts has the distinction of being both a highly sought after franchise right now and one of the longest running and most recognized names in the quick-service restaurant world,” said Javier Aguirre, Partner of Farragut. “We’re excited to partner with Hank and his team of veteran operators as they continue to expand the brand’s presence in the Phoenix market.”
“The Farragut team was quick to understand our business needs and deliver on a funding solution” said Hank Huth. “Dunkin Donuts presents a unique development opportunity in the Phoenix market and we are pleased to have Farragut as our financial partners to accelerate our growth”