Rita Restaurant Corp. Purchases Don Pabloâ€™s and Hops Restaurants
Rita Restaurant Corp. has purchased 41 Don Pablo’s restaurants in 15 states and seven Hops restaurants in four states from Avado Brands Inc. of Madison, Georgia
Rita Restaurant Corp. is a newly formed corporation owned by funds and accounts managed or advised by DDJ Capital Management LLC. The company will remain in Madison under a new management structure. David Barr will lead the company as chairman of the board, Paul Seidman will serve as chief operating officer, and Kurt Schnaubelt as chief financial officer.
Rita Restaurant Corp. purchased the restaurants from Avado Brands as part of Avado’s Chapter 11, Section 363 auction. Financial advisor Lane, Berry & Co. International LLC of Boston assisted with the transaction, which was finalized on February 27.