Sycamore Partners, a private equity firm known for its investments in consumer, distribution, and retail-related businesses, has announced its acquisition of Playa Bowls, a leading superfruit bowl franchise in the United States. Playa Bowls was acquired from Tamarix Equity Partners and other investors, marking a new chapter for the rapidly growing franchise.
A Leader in the Superfruit Bowl Segment
Since its inception in 2014, Playa Bowls has swiftly become the top player in the superfruit bowl shop segment, boasting over 250 locations across 22 states. The franchise offers a diverse menu that features acai, pitaya, mango, green, and coconut bowls, along with juices, smoothies, cold brew, and more. Playa Bowls has differentiated itself through its commitment to healthy, high-quality ingredients and an extensive, vibrant menu that caters to a wide range of tastes and dietary preferences.
“Playa Bowls has built a unique category leadership position with passionate customers, a loyal franchise base, and a great brand, which has allowed the company to scale rapidly in its first decade since inception,” said Stefan Kaluzny, Managing Director of Sycamore Partners. “We are confident Playa Bowls has continued runway for growth and we look forward to partnering with Dan and his talented team to implement their strategy to reach more customers around the country.”
Strategic Growth and Expansion
Dan Harmon, Chief Executive Officer of Playa Bowls, expressed enthusiasm about the new partnership with Sycamore Partners. “We are excited to be partnering with Sycamore as we take this next step in the Playa Bowls journey,” Harmon stated. “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.”
The acquisition aligns with Sycamore Partners’ strategy of investing in high-potential consumer brands. Playa Bowls, with its strong franchise model and robust market presence, represents a significant opportunity for continued growth under Sycamore’s ownership.
A Successful Exit for Tamarix Equity Partners
Mark Hauser, Managing Partner of Tamarix Equity Partners, reflected on the successful partnership with Playa Bowls. “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. 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.”
Advisors and Legal Counsel
North Point served as the exclusive financial advisor to Playa Bowls during the transaction. Legal counsel for the company was provided by Skadden, Arps, Slate, Meagher & Flom LLP, and Ice Miller LLP. Kirkland & Ellis LLP acted as legal counsel for Sycamore Partners.
Looking Ahead
With Sycamore Partners’ acquisition, Playa Bowls is poised for continued growth and innovation in the competitive healthy eating space. The partnership promises to expand the brand’s footprint and bring its popular superfruit bowls to even more communities across the United States.
For more information on Playa Bowls and its offerings, visit PlayaBowls.com or follow the brand on social media. To learn about franchising opportunities with Playa Bowls, visit franchise.playabowls.com.
