Irvine-based Claim Jumper Enterprises Inc. is up for sale, according to a report at TheDeal.com on Friday.
The restaurant chain has hired Piper Jaffray & Co. to shop the company, TheDeal reported.
The financial news Web site said potential buyers likely are buyout companies with restaurant experience, such as Castle Harlan Inc., Saunders Karp & Megrue, Catterton Partners and Bruckman, Rosser, Sherrill & Co.
The chain, which has annual sales of some $250 million, could fetch at least $125 million in a sale, TheDeal reported. Details are expected to go out to prospective buyers in the next 30 days.
President Craig Nickoloff and his dad started the Claim Jumper chain in 1977 via a holding company, CWN Management Inc. in Irvine. The chain has more than 30 restaurants in five states.
Earlier this year the company completed a $31.5 million financing deal with General Electric Co.’s commercial finance unit.
The restaurant chain said it plans to use the money to refinance its debt and fund expansion, including a couple of new restaurants in Washington and Arizona.
