Investment company Pacific General has divested its interest in Playa Bowls, a US-based franchise specialising in superfruit bowls, to Sycamore Partners.

The financial terms of the transaction have not been revealed.

Pacific General managing partner Matthew Yoon said: “Playa Bowls has grown to a national brand with a strong management team and corporate system today.

“Pacific General is proud to help achieve such growth during our investment period, and I am looking forward to watching [it] further accelerate its growth both domestically and internationally under Sycamore’s leadership.”

Founded in 2014, Playa Bowls operates 250 locations across 22 states in the US, offering superfruit bowls, smoothies and juices, all designed to promote a healthy lifestyle.

In July 2021, Pacific General, in collaboration with Tamarix Equity Partners, a New York-based private equity firm, acquired a majority stake in Playa Bowls.

Under the ownership of Pacific General and Tamarix, Playa Bowls then added more than 150 franchise locations across the US in three years. This marked a notable increase in expansion speed compared to the six years it had taken to reach 100 franchise stores before the acquisition.

Playa Bowls founder Robert Giuliani said: “The partnership with Pacific General and Tamarix has been truly transformative for Playa Bowls.

“Their support and expertise have been invaluable as we navigated our growth journey. I am proud of what we have achieved, and excited for the next chapter of Playa's story.”

North Point was the exclusive financial advisor to Playa Bowls, with Skadden, Arps, Slate, Meagher & Flom and Ice Miller providing legal counsel.

In early September 2024, Sycamore Partners acquired a stake in Playa Bowls from Tamarix Equity Partners.