Dan Snyder's Red Zone Firm Sells Johnny Rockets Restaurant Chain
Redskins Owner DAN SNYDER's Red Zone private equity firm has "sold Johnny Rockets, its oldies-themed burger-and-milkshake chain, for an undisclosed amount after six years of ownership," according to Thomas Heath of the WASHINGTON POST. A Sun Capital spokesperson said that an affiliate of Sun Capital Partners "purchased the 300-unit chain this month." Red Zone hired North Point Advisors earlier this year to "find a buyer." DC restaurant broker TOM PAPADOPOULOS said that he "did not fully understand the strategy behind Snyder’s purchase of Johnny Rockets." But he added, “I think he was going to put it in his Six Flags parks." Heath notes Red Zone "has restaurants in 17 Six Flags parks and on 11 Royal Caribbean cruise ships" (WASHINGTON POST, 6/19).
RUBBING ELBOWS: In Boston, Shanahan & Goldstein note Patriots Owner ROBERT KRAFT and his girlfriend, RICKI LANDER, were "hanging out with JAY-Z" in N.Y. Monday at "the 10th anniversary party for the rapper’s 40/40 Club." Kraft was in N.Y. to give the "keynote address at an Ernst & Young event" (BOSTON GLOBE, 6/19).