Parcrest Advises C.R. Chicks on its Growth Capital Investment by Blake Investment Partners and Luther Family Investments

JUPITER, Fla., March 6, 2024 /PRNewswire/ — Parcrest Advisors (“Parcrest”) served as the exclusive investment banking advisor to C.R. Chicks (the “Company”) on its growth capital investment by Blake Investment Partners (“BIP”) and Luther Family Investments. This newly formed partnership provides the Company with both capital, resources and a proven playbook for expansion given BIP’s real estate investment expertise and Jon L. Luther’s successful track record of growing fast food restaurant concepts including Dunkin’ Brands, Popeyes and Arby’s, and his illustrious affiliation with the Culinary Institute of America.

Headquartered in Florida with 7 restaurant locations and 1 commissary, C.R. Chicks is a “fast and fine” rotisserie chicken restaurant chain renowned for its exceptional dining and catering experiences, through its signature Rotisserie Chicken, Smoked Chicken with Penne Pasta (the “Smokey”), Chicken Breast Sandwich and Chocolate Chip Cookies. For more than 30 years, C.R. Chicks has retained a cult following of loyal customers in the Jupiter and West Palm Beach areas, famous for providing the highest quality dishes at an affordable price. From succulent rotisserie chicken, slow-roasted to perfection to an array of wholesome sides and salads, boasting vibrant colors and robust flavors, every dish at C.R. Chicks is a celebration of culinary craftsmanship and passion. Behind the scenes, the Company’s in-house commissary handles ingredient sourcing, quality control and skilled food preparation, providing significant operating leverage to the Company and its restaurant locations. Management’s collective commitment to excellence ensures that every visit to C.R. Chicks is a memorable journey.

“The Parcrest team played a crucial role in our journey to identify, select and negotiate with suitable partners over the course of our engagement. They provided invaluable support, aiding us daily in gathering the necessary information to effectively market our Company to hundreds of potential suitors amidst waning investor appetite for restaurant businesses. Additionally, bankers at Parcrest coached us before and during Management Presentations, which resulted in four final offers. Parcrest’s adept negotiation and consensus building skills ensured we secured the best deal with the most suitable partner and alleviated the complexity of multiple stakeholders and legal entities. Notwithstanding the challenging lending environment, Parcrest effectively supported us through this transformative phase, ultimately culminating in an outcome that exceeded our expectations. We couldn’t be happier with the end result,” said Christopher R. Sallen, Co-Founder of C.R. Chicks.

“We are thrilled to partner with C.R. Chicks, a restaurant concept that we have admired and enjoyed as customers over many years. Chris Sallen, Rick Davis and Keaton Davis have built an incredible business and culture, and it is one that deserves investment for continued expansion so that more people can enjoy what C.R. Chicks brings to the table. I am thankful to the professionals at Blake Investment Partners and Parcrest Advisors for putting this transaction together, and along with my Luther Family Investment partners, Jonathan Luther and Dan Bowers, are eager to contribute to this exciting new partnership!” remarked Jon L. Luther, former CEO & Chairman of Dunkin’ Brands.

 “C.R. Chicks has been on our radar for years as an ideal investment target for our firm. Together with our partner, Luther Family Investments, we feel privileged to have the opportunity to build alongside such great people within the C.R. Chicks organization to grow the business in the years to come. This transaction could not have been consummated without the help of Parcrest Advisors, who have demonstrated strong client advocacy, diplomacy and integrity from day one to close. We look forward to working with Parcrest again in the near future,” said Cole Sones, Partner of Blake Investment Partners.

“We are grateful to Chris Sallen and the Davis family for entrusting us with this very important transaction. Together as a team, we proactively tackled numerous headwinds during this process, which included complex shareholder dynamics, ongoing supply chain issues, cautious lenders, among others. We also benefited from working across the table from BIP and the Luther family, who were consistently solution driven, professional and transparent throughout. It took a village to close this transaction within a tight timeframe, and the collaboration we witnessed between client and investor bodes well for C.R. Chicks during its next chapter of growth,” stated James C. Lee, Founder and Managing Partner of Parcrest Advisors.

“Within our consumer and retail practice, Parcrest maintains a high bar when it comes to taking on clients within the restaurant sector. And C.R. Chicks checked all of the boxes, with solid financials, high margins, consistent growth and a scalable business model. While this transaction was originally intended to be a majority sale, we commend our client for seeing the bigger picture and pushing for a growth equity transaction, especially given the horsepower that BIP and Mr. Luther bring to the deal. We are excited to see what this newly formed partnership will accomplish over the next few years,” said Francisco Lume, Managing Partner of Parcrest Advisors.

About C.R. Chicks

Headquartered in Florida, C.R. Chicks is a “fast and fine” rotisserie chicken restaurant chain with 7 restaurant locations and 1 commissary strategically located across Jupiter and West Palm Beach. With a commitment to serving high-quality, flavorful dishes, C.R. Chicks has earned a loyal following and established itself as a leader in the regional rotisserie chicken market. In addition to its restaurant operations, the Company also provides catering to high profile customers including The Honda Classic and St. Louis Cardinals. For more information, please visit

About Blake Investment Partners

Founded in 2003, Blake Investment Partners (“BIP”) is an alternative investments firm with expertise in real estate and private equity. BIP creates value by bringing strategic capital, vendors and operational leverage to its portfolio companies. With a focus on supporting the growth initiatives of its portfolio companies, Blake Investment Partners has a successful track record of partnering with exceptional management teams to unlock value and achieve long-term success.

About Jon L. Luther & Luther Family Investments

Jon L. Luther is a past Board Director at Inspire Brands and TempurSealy, and led an illustrious career in the fast food restaurant sector. Most notably, Mr. Luther served as CEO & Chairman of Dunkin’ Brands from January 2003 to 2013, where he led the revitalization and global expansion of two iconic brands: Dunkin’ Donuts and Baskin-Robbins. Previously, he was President of Popeyes where he grew store count by 67% to 1,672 units within six years. He is Chairman Emeritus of the Board of Trustees at The Culinary Institute of America. Mr. Luther’s son, Jonathan Luther is the founder and proprietor of JJ’s Red Hots in Charlotte, NC and has been featured on Diners, Drive-ins and Dives. Dan Bowers, also part of the Luther family, is a former successful multi store franchisee of Dunkin in South Florida and currently a franchisee of Sola Salons, also in South Florida.

About Parcrest Advisors

Parcrest Advisors is a rapidly growing investment bank based in New York City with a strong focus in the consumer and industrials sectors. In order to provide securities-related services discussed herein, principals of Parcrest are licensed with Independent Investment Bankers, Corp. member FINRA & SiPC. Independent Investment Bankers, Corp. and Parcrest are not affiliated entities. Further information about Parcrest is available at

Media Contacts:
James C. Lee
Founder & Managing Partner
+1 (212) 520-1717
[email protected]

Francisco Lume
Managing Partner
+1 (212) 520-1718

SOURCE Parcrest Advisors

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