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JPMORGAN PARTNERS ANNOUNCES INVESTMENT IN QUIZNOSMarch 20, 2006 – Quiznos, a leader in the quick-service restaurant business, and JPMorgan Partners, a private equity affiliate of JPMorgan Chase & Co., announced today that they have entered into a definitive agreement under which JPMorgan Partners will become a significant ownership partner in Quiznos. Specific terms of the transaction were not disclosed. Headquartered in Denver, Colorado, Quiznos is one of the fastest growing restaurant chains and the second largest player in the U.S. sandwich market, with more than 4,500 units currently open worldwide. Through its offering of subs, soups and salads, Quiznos provides a broad demographic of consumers with a high quality alternative to traditional fast food. “We are extremely pleased to be partnering with JPMorgan Partners,” said Rick Schaden, Chairman and CEO of Quiznos. “With its extensive experience in leading consumer companies and nationally-recognized brands, we believe JPMorgan Partners is the ideal partner as we take our strong national brand to the next level. Over the past 25 years, our franchise owners and employees have built a tremendous organization, and joining with JPMorgan Partners will help us leverage the strong and unique platform that Quiznos has put in place. I look forward to working with JPMorgan Partners, along with our franchise owners, management team, vendors and employees, as we continue to drive the business forward and build Quiznos for the future.” Stephen Murray, President of JPMorgan Partners, said, “Quiznos has a tremendous business model, supported by its strong brand equity, committed franchise owners and an experienced and entrepreneurial management team. We are delighted to have the opportunity to partner with a brand that is so highly regarded by consumers nationwide and build on the company’s track record of success in the U.S. sandwich market.” Quiznos’ financial advisor was Goldman Sachs & Co. Legal counsel to Quiznos was Paul, Weiss, Rifkind, Wharton & Garrison LLP. JPMorgan Partners’ legal counsel was O'Melveny & Myers LLP. About JPMorgan Partners J.P. Morgan Partners, LLC (JPMP) is a leading private equity firm with approximately $10 billion in capital under management as of December 31, 2005. Since its inception in 1984, JPMP has invested over $15 billion worldwide in consumer, media, energy, industrial, financial services, healthcare, hardware and software companies. With more than 75 investment professionals in five principal offices throughout the world, JPMP is an experienced investor in companies with worldwide operations. Selected investments include: AMC Entertainment, Cabela's, 1-800 Flowers, The International Cornerstone Group (parent of Frontgate and other leading catalogues), Guitar Center, Pinnacle Foods (manufacturer of Vlasic Pickles, Hungry Man, Log Cabin and other leading food brands), PQ Corporation, Brand Services and SafetyKleen Europe. JPMP is a private equity division of JPMorgan Chase & Co. (NYSE: JPM), one of the largest financial institutions in the United States, and is a registered investment adviser with the Securities and Exchange Commission. About Quiznos Celebrating its 25th Anniversary, Denver, Colorado-based Quiznos is a leader in the upscale sandwich category. The company started as a single restaurant in Denver in 1981. Quiznos has expanded to more than 4,500 locations throughout the US and in fifteen foreign countries worldwide. Nation’s Restaurant News, in June, 2005 named Quiznos the fastest growing sandwich chain in the US and Entrepreneur magazine in 2005, ranked Quiznos as the # 2 franchise chain in the country. Quiznos offers a wide variety of high quality, chef inspired recipes for toasted subs, soups and salads. # # # Back to Press Releases |
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The historical information presented may reflect the activities of the professionals of CCMP Capital Advisors, LLC (together with its affiliates, “CCMP Capital”) while they were members of J.P. Morgan Partners, LLC ("JPMP"), a private equity division of JPMorgan Chase & Co. prior to CCMP Capital's commencing operations. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to purchase any investments or securities of any investment vehicles. © 2008 CCMP CAPITAL ADVISORS, LLC. All rights reserved. |
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