Fazoli’s Italian restaurant chain sold

The Fazoli’s Italian restaurant chain, which operates seven restaurants in the Dayton-Springfield area, has a new corporate owner.

The Lexington, Ky.-based, fast-casual restaurant chain has been sold by Sun Capital Partners to Sentinel Capital Partners. Terms of the deal were not disclosed.

Private-equity group Sentinel has acquired TGI Fridays, Checkers Drive-In Restaurants and Newk’s Eatery in recent months, according to Restaurant News.

“Fazoli’s has consistently outperformed its competitors and will be a very strong addition to our restaurant portfolio,” John McCormack, a partner at Sentinel, said in a statement. “The business has demonstrated robust financial performance and recently built impressive momentum.”

Fazoli’s CEO Carl Howard — a native of Kettering and a 1983 graduate of Fairmont East High School — has been credited with helping turn around the struggling chain since his appointment as CEO in 2008. The chain has used the Dayton market to test new menu items and opened its seventh location on Miller Lane in Butler Twp. in August 2014.

Fazoli’s, founded in 1988, operates 213 company-owned or franchise-operated locations in 26 states.

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