Punch Bowl Social gets growth funds infusion

punch bowl social farmers board

In a move likely to intensify competition in the growing fun-and-food category, the private-equity firm L Catterton has invested in Punch Bowl Social, a six-unit contender.

Terms were not disclosed, but Punch Bowl called the investment “significant.”

“With L Catterton’s support, Punch Bowl Social is primed to become an iconic American brand,” Punch Bowl CEO Robert Thompson said in a prepared statement.

The chain cited plans to open branches in Atlanta, San Diego, Dallas, and Washington, D.C. It currently has outlets in Cleveland, Detroit, Chicago, Indianapolis, Minneapolis and Denver, where the concept was started in 2012 by Thompson.

Punch Bowl Socials typically measure around 25,000 square feet. Guests are invited to play such games as ping pong, pinball, bowling, shuffleboard and skee-ball. Bar service and a full food menu are also offered. The menu was developed by southern celebrity chef Hugh Acheson.

It competes with such ventures as Pinstripes, Spin and Barcade. Dave & Buster's is a leader in the food-and-games segment, but emphasizes electronic and arcade-type games.

L Catterton has invested in a number of restaurant brands, including Hopdoddy, Velvet Taco, Chopt, Piada, P.F. Chang’s and Anthony’s Coal Fired Pizza. It claims to be the biggest consumer-focused private-equity firm in the world, with $14 billion in capital.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Technology

4 things we learned in a wild week for restaurant tech

Tech Check: If you blinked, you may have missed three funding rounds, two acquisitions, a “never-before-seen” new product and a bold executive poaching. Let’s get caught up.

Financing

High restaurant menu prices mean high customer expectations

The Bottom Line: Diners are paying high prices to eat out at all kinds of restaurants these days. And they’re picking winners and losers.

Financing

Podcast transcript: Puttshack CEO Joe Vrankin

A Deeper Dive: The chief executive of the minigolf-centric restaurant chain discusses how the chain focuses on higher-quality games and food.

Trending

More from our partners