Sun Capital Partners Inc. announced Tuesday that it has sold Fazoli's Group, the quick service Italian restaurant group based in Lexington, to Sentinel Capital Partners.
Terms were not disclosed.
Fazoli's has 124 company-owned and 89 independent franchised locations in 26 states.
Sun Capital Partners had acquired Fazoli's in 2006. The company was founded in Lexington in 1989.
Sentinel Capital Partners has investments in fields ranging from aerospace to health care. Its food investments include a Pizza Hut franchisee company in Southern California and a Church's Chicken operator in the midwest.
Sun said in its news release that its Fazoli's improvements since 2006 include same-store sales growth, improved profitability the revitalization of the restaurant chain's menu and cost-saving initiatives.
"We firmly believe Fazoli's is well positioned to achieve continued success under its new owner," said Marc Leder, co-chief executive officer at Sun Capital.
"Fazoli's has consistently outperformed its competitors and will be a very strong addition to our restaurant portfolio," said John McCormack, a partner at Sentinel.