By Linda Moss CoStar News
A Southern New Jersey restaurant chain, the owner of P.J. Whelihan’s Pub + Restaurant, has been acquired by a New York City investment firm.
PJW Restaurant Group, based in Westmont, New Jersey, was purchased by Garnett Station Partners. Financial terms of the deal weren’t disclosed.
But the buyer said it will recapitalize and provide growth capital for PJW, which owns 26 restaurants with six different dining concepts throughout New Jersey and Pennsylvania. Those include its namesake P.J. Whelihan’s, The PourHouse, a high-end gastro-pub, The Chophouse, a high-end steakhouse, The Chophouse Grille, a casual steakhouse, Treno, a casual Italian-and-pizza concept, and Central, a taco-and-tequila bar.
PJW was Founded in 1983 by Bob Platzer, with the help of his wife, Donna. His first restaurant, Platz’s, eventually became a P.J. Whelihan’s.
Matt Perelman, co-founder and managing partner at Garnett Station, described P.J. Whelican’s as an an iconic brand in one of America’s biggest sports markets.
“Over the last three years, we’ve worked closely with Bob and (CEO) Jim (Fris) to thoughtfully develop a strategic growth plan to extend the P.J. Whelihan’s magic to additional communities in New Jersey and Pennsylvania,” Perelman said in a statement. “We are grateful to Bob and Jim for the opportunity to further invest in this incredible brand.”
Garnett has investments in a number of restaurant companies, including Burger King, Popeyes Louisiana Kitchen, Mambo Seafood and Twin Peaks.
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