4x4 Capital Acquires Bob Evans Restaurants, LLC from Golden Gate Capital to Enhance Growth

NEW YORK--(BUSINESS WIRE)--4x4 Capital (‘4x4’), a leading investment platform focused on creating value for middle market companies in consumer goods and services, today announced the acquisition of Bob Evans Restaurants from Golden Gate Capital. The transaction underscores the enduring value of the Bob Evans Restaurants business and aims to maximize its long-term growth potential.

Born on a farm in Rio Grande, Ohio, in 1948, Bob Evans Restaurants is a family-style restaurant chain known for its farm fresh ingredients and hospitality. The brand offers high-quality, farm fresh food at a great value for families nationwide. The all-American family dining brand has more than 400 locations employing over 15,000 people in 18 States. The brand’s dedication to community engagement through farming and neighborhood initiatives remains a cornerstone of its identity.

CEO Mickey Mills and her team will continue to lead the company to serve customers as they have proudly done for the past 78 years. 4x4 Co-Founder & Partner Gustavo Assumpção will serve as Executive Board Chair.

4x4 Capital has a strong track record of investing in and accelerating growth across the food and beverage sector through a value-creation playbook rooted in active ownership and close partnership with leadership teams.

“We are proud of what we accomplished in partnership with Golden Gate Capital and excited to begin this next chapter with 4x4’s hands-on partnership. Together, we look forward to investing in and enhancing our operations, guest experience, and brand—with a continued focus on stability, partnership, and long-term value creation,” said CEO Mickey Mills.

“What truly sets the Bob Evans brand apart is its distinctive hospitality, welcoming ambiance, and fresh, flavorful food—delivering real value for the whole family. We look forward to partnering with Mickey and the team to maximize long-term growth,” commented Gustavo Assumpção, Executive Board Chair and 4x4 Co-Founder & Partner.

“We are truly grateful to the terrific team at Bob Evans for their strong stewardship of this iconic brand. We wish the team all the best as they enter their next phase of growth,” said Neale Attenborough, Managing Director at Golden Gate Capital.

Kroll’s Restaurant & Retail Investment Banking practice served as the exclusive advisor to Bob Evans Restaurants. Piper Sandler & Co. acted as advisor to 4x4 Capital.

About Bob Evans Restaurants, LCC

Rooted in the agricultural heritage of founder Bob Evans, whose humble Farmhouse Kitchen laid the foundation for our restaurants over 70 years ago, Bob Evans continues to embody the spirit of farm-fresh ingredients and hospitality today. Today's Bob Evans Farmhouse Kitchen remains true to tradition, utilizing fresh ingredients and fresh preparation in every dish across our nearly 420 locations in 18 states. From the classic Farmer’s Choice Breakfast to the slow-roasted, hand-carved turkey dinner, each bite reflects our dedication to delivering America’s Farm Fresh at every meal, every day. For more information and restaurant locations, visit BobEvans.com, download the Bob Evans app on iOS and Android, or follow us on Facebook and Instagram.

About 4x4 Capital

4x4 Capital is a New York-based investment firm focused on creating value for middle market companies across the Consumer Goods, Consumer Services, and Consumer Adjacencies sectors in North America. Founded in 2018, the firm takes an active ownership approach to investing, combining deep operational expertise with a systematic value-creation playbook to help companies unlock long-term growth and operational excellence. 4x4 Capital has a proven investment and operational track record across multi-billion-dollar businesses worldwide. Visit 4x4capital.com for more information.

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity firm focused on partnering with management teams to build exceptional consumer, industrials, technology, and financial services companies. Since its founding in 2000, the firm has managed approximately $20 billion in cumulative committed capital. For more information, visit www.goldengatecap.com.