Management Group Acquires Sizzler's U.S. Operations

A management-led group at Culver City-based Sizzler USA announced Thursday that it acquired the U.S. operations of the company from  Australia's Pacific Equity Partners, which has owned Sizzler’s domestic and international operations since 2005. The restaurant chain was founded in Culver City in 1958.

The company known for its steak and salad bar owns or franchises 178 restaurants in the United States and Puerto Rico.  

“I believed that Sizzler was very important to consumers back in the 1960s, and I believe it is just as important and maybe more important today," said Jim Collins, who originally purchased Sizzler from founder Del Johnson in 1967. “Along with helping to grow the Sizzler brand, I am excited about helping the next generation of small-business owners create jobs for their communities,” he said. 

The chain has revamped its menu and is in the midst of a systemwide remodeling program. “On the business side, we have turned around sales and eliminated our debt and underperforming units,” said Kerry Kramp, who has been the Sizzler's CEO since June 2008. 

The terms of the sale, which excludes the international operations, were not disclosed. Kramp will remain in his position, and will be joined in the ownership group by non-executive Chairman Kevin Perkins and Collins.

City News Service contributed to this report.