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K&W Cafeterias Retains M&A Specialist SC&H Capital

October 14, 2020, 08:59 AM
Filed Under: Restaurant
Related: SC&H Capital

By order of the US Bankruptcy Court, Middle District of North Carolina, Winston-Salem Division, SC&H Capital, a leading investment bank specializing in M&A advisory, has been retained as the exclusive investment banker to K&W Cafeterias (“K&W” or “the Company”) for the sale of 18 cafeteria-style restaurants.  K&W is an 83-year-old, Winston-Salem based, family owned and operated restaurant chain with locations in North Carolina, South Carolina, and Virginia, specializing in made from scratch, home-style southern food at an affordable price.

The Company is defined by its loyal customer following, and dedicated employees, many of whom have been with the Company for 30-40 years. The restaurants operate in the fast-casual service style, offering in store dining and take out options, utilizing in person ordering, online ordering, or third-party delivery. Locations are also utilized for catering, and contract food service, providing food services to commercial, institutional, and governmental locations.

The Company operated between 28 and 35 restaurants with a consistent level of revenue until June 2020 when revenues declined significantly, primarily due to the COVID-19 pandemic.  As a result, 10 locations have been closed, leaving 18 locations currently operating.  Unlike buffet-style restaurants, the Company’s cafeteria-style service allows for employees to control delivery of food to customers, eliminating the need to significantly change day-to-day operations to comply with current or future COVID-19 regulations.  Personnel and operational adjustments have also been made to assure future profitability by hyper-focusing on controlling food and labor costs and implementing measures to assure a safe environment for customers and employees.

Hank Waida, Principal at SC&H Capital, said, “This is an opportunity to purchase any single or combination of 18 locations of an established and widely recognized regional restaurant chain, with a solid management and operating team in place.”

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