Restaurant operator SBE has secured a $25m credit facility from Feenix Venture Partners to expand the footprint of its restaurants and lounges in the US.
For this deal, the restaurant operator was advised by Meridian Capital.
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Feenix Venture Partners managing director Michael Siegel said: “SBE and Sam Nazarian have been at the forefront of lifestyle hospitality for 20 years and have developed many marquee restaurants.
“Feenix is excited to partner with SBE to support their numerous growth initiatives and cannot wait to experience their new concepts and upcoming locations. The whole Meridian team was a pleasure to work with and assisted in making this transaction as smooth as possible.”
Established in 2002 by Sam Nazarian, SBE is expanding its presence in Los Angeles with a series of upcoming flagship openings.
It plans to launch Casa Dani and Katsuya’s Mediterranean and Japanese cuisines in Los Angeles at Westfield Century City.
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By GlobalDataSBE and Resorts World’s Zouk Group have also teamed up to open Zouk LA in early 2024.
SBE founder and CEO Sam Nazarian said: “We are thrilled to launch this next chapter in SBE’s storied history with a partner like Feenix by our side.
“They, along with our partners at Meridian, have demonstrated excitement and eagerness to help us expand our portfolio with a clear alignment on our vision for both rapid and strategic growth.”
