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Sicilian Oven Secures Private Equity Backing to Fuel Expansion Push
Sicilian Oven
Sicilian Oven was founded in 2008.
December 11th 2025
The chain plans to expand inside and outside of Florida.
Sicilian Oven, a 10-unit Italian chain based in Florida, has hopes of getting a lot bigger thanks to private equity.
The 17-year-old concept recently received a growth investment from Goode Partners, which promises to support the company’s expansion inside and outside the Sunshine State.
“This partnership marks an exciting milestone for our company,” founder Ralph DiSalvo said in a statement. “We’ve always believed in the strength of our people and the authenticity of the Sicilian Oven brand. With Goode’s support and resources, we’re looking forward to expanding our footprint, creating new opportunities for our team, and bringing the Sicilian Oven experience to more communities.”
Sicilian Oven—which prides itself on scratch-made food and wood-fired cooking—offers a variety of Italian dishes, including signature and create-your-own pizza options, pastas, salads, sandwiches, soups, and other entrées. The brand was founded in 2008 in Fort Lauderdale, Florida, by DiSalvo and his longtime friend Andrew Garavuso. Many of the recipes have been passed down from their families, according to the website.
Goode has previously made a handful of investments in the restaurant industry. Late last year, the private equity firm announced an investment in Texas-based Wings ‘N More, with similar plans for accelerated development. Its portfolio also features Silver Diner and Stonefire Grill. Additionally, back in 2006, the company bought a majority interest in Chuy’s and helped the Mexican chain grow from eight restaurants to over 75 before exiting.
The investment company focuses exclusively on investment opportunities in the retail, restaurant, apparel, direct marketing, and branded consumer product segments.
“I’m very excited to announce Goode’s new partnership with Ralph, Andrew and the highly talented Sicilian Oven team entering this next chapter of the Company’s evolution,” Dan Bonoff, a Goode partner, said in a statement. “Sicilian Oven is a fantastic concept that delivers consistently outstanding food and service at a very approachable price point. Given the appealing unit economics and geographic white space, we believe the Company is extremely well positioned for meaningful expansion, and we’re excited to be a part of it.”
Frank Pepe Pizzeria Napoletana to Open in Westport, Connecticut
December 9th 2025
Frank Pepe Pizzeria Napoletana, the original New Haven a pizza since 1925, is excited to announce its expansion into Westport, Connecticut, another exciting milestone as the brand celebrates its centennial anniversary this year.
Frank Pepe’s has finalized a lease with Saugatuck Real Estate LLC, for a 3,529-square-foot restaurant at 361 Post Road West in the White Birch Center, with an anticipated opening in summer 2026. This Westport location will become the brand’s 18th restaurant along the East Coast, furthering its continued growth and expansion.
Jennifer Bimonte-Kelly, co-owner of Frank Pepe Pizzeria Napoletana and granddaughter of founder Frank Pepe, shared the news on behalf of her sisters Bernadette and Genevieve and her cousins Anthony, Francis and Lisa.
“Our loyal fans from Westport and the surrounding communities have been traveling to our Fairfield, New Haven, and Stamford locations for years asking when we would bring Frank Pepe’s closer to home,” said Bimonte-Kelly. “As a 100-year-old, family-owned brand, we take our time with site selection, focusing on quality over quantity, to ensure every new location delivers the same legendary experience.”
Inspired by the look and feel of the original New Haven location, the Westport restaurant will feature approximately 90 seats for dine-in guests along with a dedicated takeout area designed to offer a seamless to-go order experience. The Westport location joins Frank Pepe Pizzeria Napoletana’s family of restaurants across the east coast, which includes locations in other parts of New England, New York, the DMV, and Florida.
Frank Pepe Pizzeria Napoletana remains committed to staying true to its heritage and serving the same great coal-fired pies people have loved for generations. The brand uses fresh, real ingredients — no seed oils and no shortcuts. All pizzas are made with 100 percent olive oil, and the flour is bromate-free, underscoring the company’s belief that quality matters in every bite.
The team also prepares everything the right way: fresh veggies sliced in-house, chicken roasted on-site and locally harvested, fresh-shucked clams for the famous White Clam Pizza. The family continues to source Pecorino Romano and vine-ripened tomatoes directly from Naples, maintaining the high standards that have defined the pizzeria for 100 years.
From the coal-fired ovens that began on Wooster Street to the expansion into new communities, the company continues to preserve the distinct chew, char and craftsmanship that define New Haven apizza. Guests in Westport will soon have the opportunity to experience the tradition that has shaped the brand’s reputation for nearly a century.
NEW YORK (AP) — Jersey Mike’s, the quickly expanding sandwich chain, is being acquired by asset management giant Blackstone.
In the transaction announced Tuesday, private equity funds managed by Blackstone will be used to acquire majority ownership of Jersey Mike’s.
The deal is “intended to help enable Jersey Mike’s to accelerate its expansion across and beyond the U.S. market,” the companies said, as well as aid ongoing technological investments.
EN ESPAÑOL: Cadena de restaurantes de sándwiches Jersey Mike's adquirida por $8,000 millones
Blackstone and Jersey Mike’s did not immediately disclose financial terms in their Tuesday announcement.
But a source familiar with the matter confirmed to The Associated Press that the transaction would value Jersey Mike’s at around $8 billion, a figure previously reported by The Wall Street Journal.
The acquisition of the private company is expected to close in early 2025, subject to regulatory approvals and other closing conditions. Under terms of the agreement, Jersey Mike’s founder and CEO Peter Cancro will continue to lead the business and maintains a “significant equity stake” in the chain, the companies said.
“We believe we are still in the early innings of Jersey Mike’s growth story and that Blackstone is the right partner to help us reach even greater heights,” Cancro said in a prepared statement — adding that Blackstone “has helped drive the success of some of the most iconic franchise businesses globally.”
Jersey Mike’s roots date back to 1956, with a Point Pleasant, New Jersey storefront location that was originally called Mike’s Subs. In 1975, Cancro, then a 17-year-old high school senior who had worked there since he was 14, bought the operation with the help of his football coach.
The chain has expanded rapidly over the last decade, more than tripling its locations from 857 stores in 2014, to more than 2,800 this year, according to Technomic, a restaurant consulting company.
Jersey Mike’s posted sales of $3.3 billion in 2023, up 25% from the prior year, according to Technomic. It’s the 30th largest chain in the U.S. based on annual sales.
Its aggressive growth has helped Jersey Mike’s take market share from rivals like Subway, which has been struggling with a glut of aging stores. Last year, Subway was acquired by Roark Capital, a private equity firm with expertise in restaurant management. Roark also owns Inspire Brands, which houses two other Jersey Mike’s rivals: Jimmy John’s and Arby’s.
Tuesday’s agreement with Jersey Mike’s follows a series of similar investments from Blackstone. Just earlier this year, the private equity firm acquired Tropical Smoothie Cafe in a deal that it said would also aid the chain’s expansion.
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Burger King Corp.
Burger King’s Sizzle prototype is more digitally focused, the company says, and will soon be available to all franchisees.
RBI adds $300M to Burger King remodeling program
The investment is on top of the restaurant company’s 2022 $400M Reclaim the Flame program
Ron Ruggless | Aug 30, 2024
Restaurant Brands International Inc. plans to expand its Burger King remodeling program with an additional $300 million from 2025 to 2028, the company said in announcing its first-quarter earnings.
The Toronto-based RBI, which also owns the Tim Hortons, Popeyes Louisiana Kitchen and Firehouse Subs brands, said it plans to remodel 600 Burger King units it will be adding from its announced acquisition of the Carrols Restaurant Group, which it plans to close in the second quarter.
Burger King in September 2022 announced its initial $400 million, two-year Reclaim the Flame investment in modernizing the burger system.
“Reclaim the Flame is working,” said Josh Kobza, CEO of RBI, said in a first-quarter earnings call. “And you're seeing another clear demonstration of that confidence in the expanded company investment we announced this morning.
“The $300 million investment will contribute to remodeling another 1100 restaurants and bring us to between 85% and 90% modern image by 2028,” Kobza said. “We're continuing to incentivize better operations and higher scope remodels while introducing another element to incentivize urgency by providing franchisees more meaningful contributions the sooner they reimage.”
Kobza said the Sizzle remodel platform should be available to all franchisees soon.
Digital-forward remodels have been made in the Miami, Las Vegas, New Jersey, Northern California and Asheville, N.C., markets, he said.
“I do expect that that all of these remodels should be fairly impactful,” Kobza added. “We're doing larger scope remodels in general, compared to what we did over the prior 10 years, so those tend to have a big impact on the consumer and on sales.”
Patrick Doyle, RBI executive chairman, added: “Going to a great looking Burger King but driving past another one that doesn't look great is not ideal. We thought it was important for us to get this last leg out there to show our commitment to the franchisees, to give you visibility on our path to getting this system all looking great.”
Remodels currently are under 50% of the system, he added, but the company awaits the positive impact on the brand overall as more remodels are completed.
The initial 2022 Reclaim the Flame program included $150 million in advertising and digital investments ("Fuel the Flame") and $250 million in remodels and relocations, restaurant technology, kitchen equipment, and building enhancements ("Royal Reset").
During the three months ended March 31, RBI funded $6 million toward the Fuel the Flame investments, including $5 million toward support behind the Burger King U.S. advertising fund, and $19 million toward Royal Reset investments, including $9 million toward remodels.
“The marketing is getting better,” Kobza said. “We have the biggest focus on operational consistency that the brand has ever had. We now have a path to be nearly fully modern image across the U.S. by 2028. Our franchisees are now on a path to strong profitability.”
As of March 31, the company had funded a total of $79 million toward the Fuel the Flame investments and $81 million toward Royal Reset investments.
For the first quarter ended March 31, RBI’s net income was $328 million, or 72 cents a share, compared to $277 million, or 61 cents a share, in the prior-year period. Revenues were $1.739 billion, compared to $1.59 billion in the prior-year quarter.
Same-store sales by concept were up 15.5% at Tim Hortons Canada, up 8.7% at Burger King U.S., up 3.4% at Popeyes US and up 0.3% at Firehouse Subs U.S. International same-store sales were down 3% at Time Hortons, up 12.5% at Burger king, up 29.8% at Popeyes and up 1.1% at Firehouse Subs.
As of March 31, Restaurant Brands International owned and franchised 31,113 restaurants, including 7,139 Burger Kings, 4,505 Tim Hortons, 3,412 Popeyes, 1,277 Firehouse Subs, and 14,780 in its international division.
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Attention Business Owners: We're always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at Nerb@comcast.net or call us at 1-617-721-9655 to discover the difference that is "The National Restaurant Exchange". We have qualified buyers looking for Full Service and Fast Food opportunities right now!
