Brookwood Associates | Applejam, Inc.

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Applejam, Inc.

Applejam, Inc. owned and operated 27 Applebee's International units in Florida, Georgia, Alabama and Texas.

Engagement Goals

Brookwood was hired to explore strategic alternatives for the company, including a possible sale.

Engagement Process and Outcomes

Existing Structure - Applejam's real estate assets included 15 fee simple units and 7 ground lease units. Additionally, Applejam became an ESOP in November 1997 and was 100% owned by its employees.

Brookwood Process - Brookwood contacted both strategic buyers and private equity groups who would partner with management to continue to grow the company.

Excellent Results - Brookwood successfully sold the company to a strategic buyer. Applejam's ESOP structure added a component of complexity to the transaction as Brookwood worked through the ERISA requirements with the ESOP's trustee and the ESOP's counsel. Brookwood negotiated a financing structure that included both traditional senior financing as well as a sale/leaseback.

Applejam, Inc. - advised this owner and operator of 27 Applebee's International units in Florida, Georgia, Alabama and Texas in its sale to a strategic buyer