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A Chicago-based private equity firm announced it has acquired HopCat, the craft beer bar chain founded in Grand Rapids.
Under the deal, announced earlier this week, Uncommon Equity LLC acquired parent company Project BarFly LLC, which includes 12 HopCat locations across Michigan and one in Nebraska, in addition to a separate Grand Rapids restaurant called Stella’s Lounge.
“We are excited to be acquiring HopCat at this pivotal point in time and to partner with Chairman Ned Lidvall, CEO Craig Stage, CFO Andrew Woodruff and their leadership team to carefully grow the HopCat brand while continuing their maniacal focus on great, value-priced food served in a friendly, neighborhood atmosphere,” said Uncommon Equity co-founder and CEO Dan Kipp in a statement, who will join HopCat’s board of directors.
“We see this transition not as a change of direction, but as a continuation of what HopCat does best — bringing people together,” said Project BarFly CEO Craig Stage. “We’re excited to partner with Uncommon Equity and their experienced Operating Partners to invest in the team, new locations, and innovation while preserving the local and Midwest hospitality that has always defined the brand.”
The terms of the acquisition were not disclosed.
HopCat was founded in 2008 and has locations in Grand Rapids, Detroit, Royal Oak, Downriver, and Ann Arbor, among others. Its bars are known for having a diverse selection of rotating craft beers on tap and a menu with burgers and its signature Cosmik Fries.
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Lee DeVito
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