Playa Bowls Acquired by Sycamore Partners, Marking New Chapter in Rapid Expansion
Playa Bowls, the popular acai bowl chain founded on the Jersey Shore in 2014, has been acquired by retail-focused private equity firm Sycamore Partners. The terms of the deal, which sees Sycamore acquiring Playa Bowls from Tamarix Equity Partners and other investors, remain undisclosed.
Over the past decade, Playa Bowls has grown from a single storefront into a national sensation with 250 locations across the United States. Known for its vibrant menu featuring smoothie bowls, juices, cold brew, and smoothies, Playa Bowls has captured the hearts of health-conscious consumers. In 2023, the chain was recognized as one of Technomic’s top 10 fastest-growing chains, reflecting its rapid rise in the competitive fast-casual segment.
Dan Harmon, CEO of Playa Bowls, expressed excitement about the acquisition, seeing it as a pivotal moment in the brand’s journey. “We are excited to be partnering with Sycamore as we take this next step in the Playa Bowls journey,” Harmon said in a statement. “After a decade of hard work building a strong foundation, we believe Sycamore’s support and resources, as well as their expertise in managing multi-unit franchise organizations, will help us accelerate our growth as we continue to support our franchisees and delight our guests.”
Sycamore Partners, a New York-based private equity firm with over $10 billion in committed capital since its inception in 2011, has a history of investing in consumer and retail businesses. The firm’s portfolio includes notable retail brands such as Express, Hot Topic, Staples, The Limited, and Ann Taylor Loft. The acquisition of Playa Bowls aligns with Sycamore’s strategy of investing in high-growth, founder-led businesses and leveraging its expertise to drive further expansion.
Mark Hauser, managing partner of Tamarix Equity Partners, which played a significant role in Playa Bowls’ growth, commented on the success of their partnership. “Consistent with our strategy of investing first institutional capital into founder-owned businesses, Tamarix is proud to have helped build Playa Bowls into a leading national franchise platform,” Hauser said. “During our ownership, Playa added more than 150 franchised locations and professionalized the platform to streamline future growth. We are thrilled with the outcome of this transaction and look forward to watching Playa Bowls’ continued expansion.”
The acquisition is expected to provide Playa Bowls with the resources and strategic direction needed to expand its footprint even further. North Point served as the financial advisor to Playa Bowls for the transaction, with legal counsel provided by Skadden, Arps, Slate, Meagher & Flom LLP, and Ice Miller LLP.
As Playa Bowls embarks on this new chapter under Sycamore Partners’ ownership, the brand is poised to continue its rapid expansion, bringing its beloved acai bowls and smoothies to an even broader audience. The partnership is a testament to Playa Bowls’ strong market position and the growing demand for health-focused, fast-casual dining options.
Financial Desk
