Since 1991, Dallas-based Razzoo’s has expanded slowly, methodically and predominantly under the radar. However, continued strength with the company’s core brand, Razzoo’s Cajun Café, and enthusiastic demand for their newest concept, Tricky Fish, has encouraged management to seek structured outside funding for the first time in corporate history. Razzoo’s selected KPMG Corporate Finance LLC to secure a partnership with Goldman Sachs Specialty Lending Group on senior debt facilities to fund more aggressive brand expansion.
“Because of our improved positioning and overall strengthening of the brand, it is exciting to explore a more rapid expansion strategy,” says Razzoo’s CEO Jeff Powell. “Our partnership with Goldman Sachs supports the opening of 10 new units by 2020.”
Founded in 1991, Razzoo’s currently owns and operates 19 Razzoo’s Cajun Café locations and one Tricky Fish. Two new Razzoo’s Cajun Café units will open in the first half of 2018 in Pasadena and Lubbock, Texas, and a second Tricky Fish location is under development and slated for a summer 2018 opening in Fort Worth. Currently, all but one of the restaurants is in Texas.
“Since our founding, we’ve grown the company conservatively and primarily from cash flow,” says Powell. “This financial partnership will allow us to continue expansion within Texas and the surrounding region while exploring new markets beyond our Texas roots.”