Twin Cities restaurant group Parasole to be sold to equity fund

Parasole owns a number of Twin Cities eateries, including Manny's Steakhouse.
Author:
Publish date:

One of the Twin Cities' most prominent restaurant groups is being sold to a Minneapolis-based private equity fund.

Parasole Restaurant Holdings announced on Wednesday that it has entered into a purchase partnership with FS Funds, saying that the agreement will allow the group to grow.

Parasole accounts among its 14 Twin Cities restaurants the famous Manny's Steakhouse in downtown Minneapolis, with others including Salut Bar Americain, Pittsburgh Blue Steakhouse, Chino Latino, The Good Earth, Burger Jones, and Field Day.

"Our alliance with FS Funds offers Parasole the opportunity to continue to grow our brands and for Parasole to remain a Minnesota icon and restaurant industry leader for decades to come," said Parasole co-founder Phil Roberts.

FS Funds describes itself as a "private equity partnership known for buying strong businesses and enduring brands with a plan to hold them permanently."

Follow Bring Me The News on LinkedIn

The principals of the fund own four Original Pancake Houses, in Edina, Eden Prairie, Burnsville, and Roseville.

Parasole has said that the purchase will not result in any changes in its gift card program.

"Be assured that any friends, family members or colleagues that are holding Parasole Card will continue to be accepted at all Parasole Restaurant Outlets," the statement said.

Next Up

Eddie Rosario

Report: Twins place Eddie Rosario on outright waivers

The outfielder's time with the team appears to be coming to an end.

radio station, microphone

Christian music broadcaster revealed as buyers of Go Radio

Educational Media Foundation. operates the K-Love brand, which has a presence already in the Twin Cities.

Screen Shot 2020-12-01 at 5.04.39 PM

St. Paul police chief reportedly fires officer who shot naked, unarmed man

Chief Todd Axtell said the officer's use of force was not reasonable.

Trevor May

Report: Trevor May leaving Twins to sign with Mets

The right-hander will sign a two-year deal to head to New York

Car crash

'Grim' milestone: Minnesota's traffic deaths reach 364, tying 2019 total

“With fewer vehicles on the road during the 2020 pandemic, the loss of life on Minnesota roads is beyond disappointing."

Devin Weiland

Charges: Albert Lea man, 21, fired around 90 shots at police, residents

Weiland was arrested after a standoff that lasted more than eight hours.

Body storage warehouse

Body storage warehouse 'ready if needed for COVID-19 fatality management'

The warehouse is currently storing PPE and testing supplies.

Giordano's

Signs come down at Giordano's restaurant in Uptown

It appears the restaurant has closed for good.

State Capitol.

Walz eyes COVID-19 relief package totaling $300-$600 million amid budget surplus

The state forecasted a budget surplus for the remainder of the biennium.

Bar beer

Walz non-committal on extension of restaurant, gym closures

He has suggested that the ban on mixing with people outside your household could continue over Christmas.

Related

Screen Shot 2020-05-24 at 2.18.26 PM

Fig & Farro the latest Twin Cities restaurant to close permanently

The plant-based eatery said there's too much uncertainty in the industry.

Screen Shot 2020-02-12 at 11.43.48 AM

Here are the Twin Cities restaurants, chefs who won Charlie Awards

The annual event honors achievement in the Twin Cities restaurant community.

Screen Shot 2019-02-27 at 11.43.18 AM

13 Twin Cities restaurants, chefs nominated for James Beard Awards

Just remember this the next time someone complains about Midwestern food.

Moose and Sadie's

Moose and Sadie's the latest Twin Cities restaurant to close

The coffee shop and cafe has become a fixture of the North Loop.

peanut-butter-sandwich-4546397_1280

Coronavirus: These Twin Cities restaurants are offering free food for kids

The restaurant industry is stepping up as schools shut down.

Ann Kim

3 Twin Cities chefs are James Beard finalists, but restaurants miss out

No Minnesota chefs or eateries are up for national awards.

Screen Shot 2020-02-26 at 9.49.11 AM

3 Twin Cities restaurants, 8 chefs nominated for James Beard Awards

The semifinalists for the prestigious awards have been announced.