Dallas, Tx (November 5, 2021) – ACON Investments, L.L.C. and its affiliates (“ACON”) announced today that it has completed the sale of its equity interests in RMH Franchise Holdings, Inc. (“RMH”) to Apple Sun, LLC (“Apple Sun”), an affiliate of Sun Holdings, Inc. (“Sun Holdings”). The financial terms of the transaction were not disclosed.
RMH is the second-largest Applebee’s franchisee with 131 restaurants across 14 states. Founded by Guillermo Perales in 1997 and based in Dallas, Texas, Sun Holdings’ portfolio contains the third-largest number of franchisees in the U.S. and supports companies that operate multiple brands and concepts. Supporting more than 1,000 locations across 12 states, Sun Holdings has helped create more than 22,000 jobs, across a number of quick service, fast-casual and casual dining brands.
“We are pleased that this sale will allow Sun Holdings, a top-tier multi-unit owner and developer with significant operational expertise to assume ownership. We are hopeful that the diversity and experience they bring to RMH will assist the system as it grows” said Daniel Jinich, a Managing Partner of ACON.
Mitch Blocher, CEO of RMH, said, “Our close partnership with ACON has helped us achieve record unit volumes and profitability this year, and I am excited to now become a part of Sun Holdings. I look forward to continuing in my leadership role at RMH and to opening new locations as part of the Sun Holdings organization.”
Guillermo Perales, President and CEO of Sun Holdings, added, “Since its founding, Sun Holdings has taken a long-term, disciplined approach when making growth investments. RMH and Applebee’s not only fits our criteria perfectly, but allows us to break into the full service, casual dine vertical.”
“We are excited to be partners with a leader in the casual dine arena. In addition, we are impressed with Applebee’s comeback and double digit same store sales growth in Q1. Their long term performance combined with a plan for continued growth, has not only cemented Applebee’s leadership position, but has prepared the brand for an expanded leadership role, in the segment. We see tremendous opportunity in this premium brand, backed by an innovative culture and highly attractive economics. This vertical
significantly expands Sun Holdings’ infrastructure and potential for future growth and expansion opportunities.” Says Perales.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States, Europe and Latin America. Founded in 1996, ACON has responsibility for managing approximately $6.1 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, Madrid, São Paulo and Bogotá. For more information, visit www.aconinvestments.com.
About Sun Holdings
Sun Holdings, Inc. was founded in 1997 by Guillermo Perales, funded by an SBA loan. Sun’s portfolio has been ranked as the third-largest franchisee group in the U.S. by Mega 99, 2018 Rankings. Mr. Perales has developed a portfolio that operates over 1,000 locations in 12 states creating more than 22,000 jobs. He has also developed over 200 new stores and completed 200 store remodels in the last three years. Mr. Perales has been ranked the third-largest franchisee in the U.S. and awarded the MUFSO Golden Chain Award and Nation’s Restaurant News’ Top 10 Power List. He has also been named Ernst & Young’s Entrepreneur of the Year and IFA’s Entrepreneur of the Year, as well as appearing on Latino Leaders Magazine’s 101 Most Influential Latinos for several consecutive years.
CONTACTS:
Meena Thever
ACON Investments, L.L.C.
mthever@aconinvestments.com
(202) 454-1100