The sub sandwich king of Southern Arizona now has a new owner.
Fast food stalwart eegee’s was purchased by a partnership of 39 North Capital and restaurant investor Kitchen Fund, according to a press release via Business Wire.
The sale, the terms of which were not released, was announced on Oct. 10. The chain has 24 locations in the Tucson region, and was put up for sale earlier this year, according to CEO C. Ron Petty.
Petty, in a statement, expressed his excitement at the infusion of capital that 39 North, a New York Firm, will bring for the local chain, allowing them to reach new markets and expand their reach into other parts of the country.
“The partnership with 39 North Capital is extremely exciting for eegee’s and our loyal employees,” Petty said, in a release. “39 North’s investment will enable us to supercharge our growth, expand our footprint, remodel the restaurant exteriors and invest in new technology. Just as important, 39 North will continue the family-owned-and-operated tradition on which eegee’s was founded.”
The chain, which was founded in 1971, was previously sold in 2006 by CEO Foods from original owners, Ed Irving and Bob Greenberg.
Greg Golkin, who serves as a managing partner of Kitchen Fund, said he’s excited to see how far the eegee’s brand-known for its frozen fruit drinks, French fries with homemade ranch dressing and fresh sandwiches-can go with the financial boost.
“We look at restaurant brands across the country and rarely have we seen a brand that has built such an authentic and longstanding relationship with its guests,” Golkin said in a release. “We have known the 39 North team for a while and have long admired their patient investment approach. We are thrilled to work on this opportunity with them.”
This is a developing story. For more information, check back on The Range.
This article appears in Oct 4-10, 2018.
I see people in the airport boarding planes with an eegees in their hand. What a great company the two founders built!
Just as long as these new owners don’t let things like sweet potato BLTs (or whatever the hell that disgusting sandwich of the month was a little bit back) become a staple of the existing menu.
I hope they come to LA. I visit my grandparents all the time and I love eegee’s. I cant wait to have them in new places.
Just don’t ruin eegees.
I’m sure they will have good intentions, but once a business is bought from local owners, it’s just a slippery slope to hum-drum franchise. I wish it wasn’t so, but it is just the norm.
CEO Foods, the seller was not a local owner when they purchased it. The CEO is still in place. I expect even better things as they move forward.
In 2 years time it will be watered-down, no hint of real fruit, all artificial like a gas station slurpee. No more cherries in cherry cider, no more coconut in pina colada…
Probably not Debbie. The people who run eegee’s probably don’t want you to know this, but they do NOT produce the ices themselves. They purchase them from a Italian ice manufacturer located in New York City. And being that the ices are their signature product, because you can get a way better sandwich at a lot of other places, they probably wouldn’t be willing to sabotage their golden goose.
They already took away their homemade chili and replaced it with can.