Stevenson completes the acquisition of a Chicago-area restaurant chain for Hanon Management

Stevenson & Company completes the acquisition of Stonebridge Gryos

Result: Acquisition for Client
Industry: Food Service Acquisition for Food Processor

Stevenson & Company recently completed the acquisition of Stonebrige Gryos, a Chicago-area restaurant chain for Hanon Management Group and Kronos Foods, Inc., a food processing company that wanted to be affiliated with a branded restaurant chain to increase its public image. Our client asked Stevenson to
make a confidential contact and follow through to gather information, present an offer and help the seller complete the transaction.

Stevenson contacted the owners without identifying our client. We overcame their initial reluctance to talk and convinced them that we could keep those discussions in confidence. We got financial information, presented a preliminary offer, and worked with our client, the seller, and its
professional advisors to negotiate the offer, complete due diligence and close the transaction.

This transaction has accomplished the objectives of both parties. It obtained wider recognition for our client’s brand, gave it a new source of revenues and profits, and helped the owners of the restaurant chain to sell at a fair price. The restaurants will operate in the same locations and are expected to be successful contributors to our client’s growth.