Countryside, IL-based operator Cooper’s Hawk Winery and Restaurants is being acquired by Los Angeles-based private equity firm Ares Management Corp. Terms of the deal were not disclosed, but earlier reports had pegged the sale price at $700 million.
The upscale/casual restaurant chain, started by Tim McEnery in 2005, generated more than $282 million in sales last year. Private equity firm KarpReilly sold its minority position in Cooper’s Hawk—which it had held since 2010—as part of the transaction.
Cooper’s Hawk currently operates 36 locations throughout the U.S. The restaurants specialize in contemporary American cuisine in settings that offer Napa-style tasting rooms, wineries and artisanal retail markets.
The business also includes a wine production facility in Woodridge, IL, for its private-label wines, and a wine club with nearly 400,000 members. Cooper’s Hawk expects to operate 41 locations by end of 2019.