Sizzler USA Management Acquires U.S. Operations, New Units Planned

A management-led group has completed the acquisition of Sizzler USA’s U.S. interests from Australia’s Pacific Equity Partners, which had owned both Sizzler’s domestic and international operations since 2005. Sizzler USA currently owns or franchises 178 restaurants in the U.S. and Puerto Rico. Terms of the sale, which excludes the international operations, were not disclosed.

The Culver City, Calif., chain has revamped its menu and is in the midst of a systemwide remodeling program. It is opening its first new restaurant in more than three years (in Salt Lake City) and will reopen two remodeled sites in California this summer; a new unit in Puerto Rico is due later this year.

The ownership group includes Kerry Kramp, who will continue as CEO and president, Kevin Perkins as non-executive chairman, and Jim Collins, who originally purchased Sizzler from founder Del Johnson in 1967.

PEP acquired Sizzler USA, along with Sizzler’s international operations and other interests, from Worldwide Restaurant Concepts.