Private Equity Firm Buys Batteries Plus

(Tuesday, November 06, 2007) - Hartland battery retailer Batteries Plus has been purchased by Atlanta private equity firm Roark Capital Group, owner of such franchises as Cinnabon and Schlotzky's.

Terms of the transaction were not disclosed.

Batteries Plus generates approximately $200 million in systemwide sales through 292 franchise and 15 company-owned stores in 41 states and Puerto Rico, serving both retail customers and commercial accounts.

Batteries Plus chief executive officer Russ Reynolds is also investing in the transaction and will remain chief executive officer.

"Roark's expertise and relationships in the franchise sector will be extraordinarily valuable to us as we execute Batteries Plus' growth plan," Reynolds said in a statement. "Their ability to help refine best practices and identify opportunities for improvement in franchise businesses is second to none."

Reynolds said the transaction will have no immediate impact on employment at Batteries Plus' 125-employee headquarters in Hartland, and employment there may eventually increase.

"They (Roark) plan to grow us," Reynolds said. "We'll run autonomously."

Batteries Plus is Roark's 13th business in the franchise sector. Roark's other franchise businesses include Carvel, Cinnabon, Schlotzsky's, Moe's Southwest Grill and Seattle's Best Coffee International, all of which are owned by Focus Brands, a Roark platform company.

Roark also owns McAlister's Deli, Money Mailer and Fast Signs. It has more than $1.5 billion of equity capital under management.

View all Batteries Plus Press Releases

This article has been read 199 times.

Printer Friendly