VESTLINK HOLDINGS AND PINECREST CAPITAL PARTNERS ACQUIRE JAKES BURGERS AND BEER
DALLAS, TX (May 11, 2021) – Vestlink Holdings (“Vestlink”) and Pinecrest Capital Partners (“Pinecrest”) are proud to announce that they have acquired Jakes Burgers and Beer (“Jakes”) from Greg Garvey, who built Jakes into a Dallas institution across 8 DFW locations. Vestlink is highly experienced and successful in growing restaurant & retail businesses, and Pinecrest is a premier merchant and investment banking firm located in Dallas that partners with middle-market companies through transactions.
Jakes is a leading regional restaurant concept that mixes excellent service and fresh, high-quality burgers, sandwiches, and more with an authentic DFW experience.
Vestlink team members Courtney Lindley, Bob Gregg, and Charlotte Moorman, and Pinecrest team members Bobby Renkes, Wes Romanowski, and Austin Jolesch were the deal team on this transaction.
“The purchase of Jakes was a perfect fit for our company because of what the brand represents. Jakes is all about making a difference for both our customers and team members,” said Courtney Lindley, Partner of Vestlink Holdings.
“We are thrilled to partner with Vestlink on the acquisition of Jakes”, added Bobby Renkes, Partner and Managing Director for Pinecrest. “Greg has built Jakes into a Dallas institution, and our entire team has been a fan of the Jakes brand for 20 plus years. We are excited to expand Jakes even further throughout North Texas and continue to build on the great food and great service that make Jakes so special.”
“I truly believe I found the best group to move Jakes forward”, added Greg Garvey, the former owner of Jakes. “Culture was one of the most important parts of the Jakes operations and without that “Jakes Culture,” we would have never been as successful as we are. We love our people! This group operates under the same philosophy. Jakes is in great hands and I expect to see great things from them in the near future!”
MapleMark Bank provided acquisition financing to Pinecrest and Vestlink in the transaction.
Wick Philips, PLLC acted as legal counsel for Pinecrest and Vestlink.
Libby Sparks Willis Starnes, PLLC acted as legal counsel to Jakes.
About Jakes Burgers and Beer
Jakes Burgers and Beer has been locally owned and operated since 1985 and currently has 8 locations across the DFW metroplex, including: Flower Mound, Frisco, Grand Prairie, Grapevine, Lake Highlands, Mansfield, Sundance Square, and Uptown Dallas.