Post on 12-Sep-2021
transcript
JUNE 2011 M O N T H L Y U P D A T E
Sweet 100 officially announces an investment in Cucina Enoteca, a sister restaurant of Cucina Urbana, which is
based in San Diego, CA. Cucina Enoteca has signed a lease and will open its first location at the Irvine Spectrum in Irvine, CA. The new
restaurant will be located directly across from Edwards Cinema and will join other national and regional
retailers including the Cheesecake Factory, California Pizza Kitchen, Javier’s , and Paul Martin’s American Bistro restaurant.
Cucina Enoteca will consist of approximately 6,245 sq ft + 2,200 sq ft of patio. The space will offer various
seating options similar to the San Diego location including community table, pizza counter, bar, dining room, semi-private dining area and patio seating.
Sweet 100 announces investment in Cucina Enoteca
Left, Cucina Urbana located in San Diego, CA is the sister restaurant of Cucina Enoteca.
Stating that the past three years in
the restaurant industry have been
difficult would probably cause most
experienced restauranteurs to laugh
and/or hit me over the head. While
growth has been achieved within
the Fast Casual Dining Category
and specific concepts such as
Chipotle, Jersey Mike’s, and Five
Guys have taken advantage of the
perfect storm, as a whole the
industry has taken a real beating.
As with any good beating you either
stay down or you pick yourself up,
eat better, hit the gym, and workout
harder. We have seen a survival of
the fittest mentality in our industry,
as savy restauranteurs have had to
dig in, refocus, and in many instances
reinvent themselves. A greater
emphasis has been put on
operational efficiency, sound
economics, and on making good real
estate and development decisions.
From all this hard work, it is about
time that we see some positive
results.
So finally some good news,
according to the National
Restaurant Association, restaurant
industry sales should see a 3.2
percent increase from 2010 and
reach approximately $604 billion in
2011. The NRA further reported
that restaurant industry news
remained positive in April with
same-store sales and solid optimism
among restaurant operators for
continued growth. The National
Restaurant Association’s Restaurant
Performance Index (RPI), which
tracks the health of the U.S.
restaurant industry stood at 100.9
in April representing the fifth
consecutive month in which the RPI
stood above 100, which signifies
expansion in the index of key
industry indicators.
The RPI is constructed so that the
health of the restaurant industry is
measured in relation to a steady
state level of base value of 100.
Index values above 100 indicate that
key industry indicators are in a
period of expansion, and index
values below 100 represent a
period of contraction for key
industry indicators. (See the graph
below) Moving into the second half
of 2011, like many of our colleagues
in private equity, we see strength in
the restaurant industry as all the
blood, sweat and tears of the
restaurant operator have begun to
pay dividends for the operator, the
consumer, and the investor.
Restaurant Industry expected to finish strong
On Tuesday, May 3rd, Sweet 100
held an event at Cucina Urbana in
San Diego to announce the launch
of its first investment fund,
Emerging Restaurant Fund I, LLC.
Emerging Restaurant Fund I, LLC is
an investment fund which will be
focused on providing capital to
early stage restaurant brands with
strong upside growth potential. To
qualify as a potential investment for
the fund, the restaurant brand must
have a track record including 2-3
years of financial data with strong
existing cash flow and an
experienced operational team.
Emerging Restaurant Fund I, LLC
will be managed by Sweet 100 and
will benefit from the leadership of a
strong board of restaurant industry
executives including the former
CEO of Sonic Corporation, and a
board member of Mastro’s
Steakhouse, McCormick and
Schmick’s, and Oregano’s.
Sweet 100 is focused on becoming
an industry leading, restaurant
investment and management
company. To learn more about
Sweet 100 go to
www.sweetonehundred.com.
Sweet 100 holds event announcing launch of Emerging Restaurant Fund I, LLC.
MANAGEMENT TEAM
MIKE DINORSCIACO-FOUNDER AND
MANAGING DIRECTOR
MICHAEL SPILKYCO-FOUNDER AND
DIRECTOR
WHILE THE RESTAURANT INDUSTRY IS CONSIDERED TO BE RISKY, WE ARE NOT INVESTING IN STARTUP CONCEPTS. OUR STRATEGY IS BUILD ON DEVELOPING AND INVESTING IN ESTABLISHED AND EMERGING RESTAURANT BRANDS.