Monday, June 16, 2008

Roark Capital Group Acquires Primrose Schools

PRNewswire/ -- Roark Capital Group, an Atlanta-based private equity firm, announced today that its affiliate has acquired Primrose Schools. Headquartered in Acworth, Georgia, Primrose Schools is a leading provider of education-based early-child-care services. Primrose was founded in 1982 and operates as the franchisor of 182 private child care centers generating approximately $275 million in system-wide revenues in 15 states across the U.S.

The acquisition of Primrose Schools is Roark's 14th 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 affiliates of Focus Brands, a Roark platform company), McAlister's Deli, Money Mailer, Fast Signs and Batteries Plus. Roark's 14 franchise brands collectively have more than 13,500 points of distribution, 2,500 franchisees and $3.2 billion in system-wide revenues in 50 states and 33 countries.

"We are very excited to partner with CEO Jo Kirchner, the Primrose team and its franchisees," said Neal Aronson, Founder and Managing Partner of Roark Capital Group. "Primrose Schools is an industry leader that provides exceptional value to its children, parents and franchisees. We are thrilled to help continue the thoughtful and accelerating growth of the system while maintaining the high level of integrity for which Primrose is known."

Kirchner, who is investing alongside Roark in the transaction, will continue to lead the company as CEO. "Roark Capital shares the genuine integrity and guiding principles on which Primrose operates," said Jo Kirchner, President and CEO of Primrose Schools. "Roark's investment approach and experience in the franchise industry will enhance our ability to execute our growth strategy while maintaining Primrose's high quality experience for children, parents and our franchise system."

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