Pacific General Forms Strategic Partnership with Lenwich

/EIN News/ -- NEW YORK, March 04, 2025 (GLOBE NEWSWIRE) -- Pacific General, a New York-based private investment firm, announced today that it has acquired a majority stake in Lenwich, the iconic premium sandwich brand that has been a staple in New York City since 1989. Lenwich’s Founder, Lenny Chu, will retain a significant equity interest in the company and continue to lead Lenwich as CEO. Terms of the transaction were not disclosed.

The partnership between Pacific General and Lenwich aims to accelerate Lenwich’s expansion beyond its home market in New York City, extending across the East Coast and the broader United States. This growth will be driven by investments in technology, digital transformation, professional leadership, and franchise development. This strategic approach builds on Pacific General’s proven track record of scaling restaurant brands, as demonstrated by its successful investment and recent exit of Playa Bowls, the largest açai bowl franchise in the country. During its investment in Playa Bowls, Pacific General added over 170 locations nationwide in three years, investing in systems, processes and further professionalizing the leadership team while working closely with the company’s founders.

Founded in 1989 by Lenny Chu, an immigrant from South Korea, Lenwich began as a single deli on the Upper West Side of New York City and has since grown into an iconic sandwich brand, serving New Yorkers for over 30 years. Today, Lenwich operates 14 company-owned locations across the city and is widely recognized for its commitment to fresh, high-quality sandwiches, distinguished by meticulous attention to detail and made-to-order service.

“As a New York-based brand, Lenwich has received numerous unsolicited investment offers over the years. The Pacific General team stood out for their deep appreciation of our brand’s value and for their strategic vision around our company’s growth. I am confident Pacific General is the ideal partner to elevate Lenwich to the next level, and I look forward to collaborating with the Pacific General team in this exciting new chapter,” said Lenny Chu, Founder and CEO of Lenwich.

“Over the years of building our relationship with Lenny, my team and I continue to be impressed by Lenwich’s journey and strong market presence. With a loyal customer base, Lenwich has become a hallmark of New York’s sandwich scene, highlighted by its commitment to quality and taste. We are excited to support Lenwich in expanding into a nationwide brand, addressing the underserved customer demand for high-quality sandwiches and salads,” said Matthew Yoon, Managing Partner of Pacific General.

“With its strong foundation and decades of excellence proven in New York City, one of the country’s most competitive restaurant markets, Lenwich has significant untapped potential for growth. We look forward to bringing our network and expertise to unlock the company’s full potential,” said Dajeong Lee, Partner of Pacific General.

Cravath, Swaine & Moore LLP served as legal counsel to Pacific General and Pryor Cashman LLP acted as legal counsel to Lenwich. RSM provided financial and tax due diligence in connection with the transaction.

About Lenwich

Founded in 1989, Lenwich is a highly reputable, premium, New York-inspired sandwich concept with 14 corporate-owned stores across Manhattan. Lenwich serves fresh, made-to-order sandwiches, wraps and salads; best known for its Chicken Caesar Wrap and Lenwich sandwich (hot pastrami, corn beef and coleslaw).

About Pacific General

Pacific General is an investment firm focusing on private equity and alternative investments. The firm specializes in originating, structuring, and investing in businesses with growth potential in the consumer, industrials and business services sectors, and leverages its cross-border expertise and global network to create value. The firm operates through offices in New York and Seoul, South Korea and with a presence in Riyadh, Saudi Arabia.

Contact
                    Kate Rosenthal
                    krosenthal@pacificgeneral.com