FORTUNE — TooJay’s, a Florida chain of New York-style deli restaurants, has been acquired by private equity firm Branford Castle, Fortune has learned.
West Palm Beach-based TooJay’s was founded in 1981, but the original founders haven’t been active in a while and were looking to divest a bit, according to current CEO Bill Korenbaum, who declined to discuss financial terms. Today the company has 24 locations across Florida, and also runs catering operations.
Branford Castle is a New York-based private equity firm run by two sons of John Castle, co-founder and CEO of larger private equity firm Castle Harlan. David Pittaway, a senior managing director with Castle Harlan with deep restaurant industry expertise, helped advise on the deal.
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