North Point Mergers & Acquisitions Research
Advisory Approach
North Point is a leading independent investment bank exclusively focused on mergers and acquisitions and institutional capital raising. Since its founding in 2004 by David Jacquin, the firm has advised on more than 350 transactions representing over $100 billion in transaction value, making it the #1 M&A advisory firm for the consumer sector by deal count.
The firm's thesis centers on deep industry specialization combined with exhaustive buyer outreach. North Point believes that the best outcomes for consumer sector sellers come from advisors who possess genuine category expertise—understanding unit-level economics, franchising dynamics, and industry-specific valuation drivers that generalist firms lack. This specialized knowledge, combined with institutional-quality process management, enables North Point to consistently achieve premium valuations for founder-owned and privately held consumer businesses.
Sector Focus
North Point's practice is exclusively consumer-focused, with particular depth in restaurants and food & beverage. The firm claims greater than 50% market share in significant U.S. restaurant M&A transactions, having completed well over 100 restaurant deals throughout its team's careers. The firm's industry verticals include restaurants (both franchisors and multi-unit franchisees), food & beverage manufacturing and distribution, fitness and wellness concepts, consumer products, beauty and wellness services, healthcare, retail, and wine.
Within restaurants, North Point has represented some of the world's most recognized brands including Starbucks, Chipotle, Jimmy John's, Landry's, Teavana, and Edible Arrangements. In beauty and wellness, the firm has worked with high-growth, founder-led brands like Drybar, Amazing Lash Studio, Elements Massage, and Ideal Image. The food & beverage practice spans manufacturing, distribution, and restaurant chains, with recent transactions including Sizzling Platter (800-unit multi-brand franchisee) and Stampede Culinary Partners (sous vide solutions provider).
Deal Track Record
North Point has completed 350+ transactions since 2004, with recent activity demonstrating continued strength across its core verticals:
Recent Notable Transactions (2025-2026):
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Dave's Hot Chicken → Roark Capital (June 2025): $1 billion acquisition of the rapidly growing fast-casual chicken concept. North Point served as exclusive financial advisor to Dave's Hot Chicken, managing a competitive process that attracted multiple private equity bidders.
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Sizzling Platter → Bain Capital (July 2025): Acquisition of the 800-unit multi-brand restaurant franchisee (brands include Village Inn, Bakers Square, and more). North Point served as financial advisor alongside Deutsche Bank, bringing deep restaurant operational expertise to the transaction.
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Crunch Fitness → Leonard Green & Partners (April 2025): Majority stake acquisition of the global fitness franchisor with 400+ locations. North Point acted as financial advisor alongside Jefferies, leveraging its fitness sector expertise.
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Farmer Brothers Coffee Co. → Royal Cup (March 2026): All-cash acquisition of the NASDAQ-listed coffee roaster and wholesaler. North Point served as financial advisor to the seller, managing a complex sale process for a public company with significant institutional shareholders.
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WellBiz Brands → Transom Capital Group (February 2026): Sale of the multi-brand beauty and wellness franchisor (Drybar, Amazing Lash Studio, Elements Massage, Fitness Together, Radiant Waxing). North Point served as co-financial advisor alongside Boxwood Partners.
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Stampede Culinary Partners → Premium Brands Holdings (January 2026): Sale of the leading North American sous vide solutions provider to the Canadian strategic acquirer. North Point served as lead financial advisor to the seller.
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Smoothie King → Main Post Partners (July 2025): Minority stake investment valuing the 1,200+ unit smoothie franchise at over $1 billion. North Point served as financial advisor.
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Hooters of America → Buyer Group (March 2025): Restructuring transaction facilitating the sale of 100+ company-owned Hooters restaurants to a franchisee buyer group (including Hooters Inc., the original founders). North Point served as financial advisor to the buyer group.
Process & Fee Structure
North Point runs institutional-quality sell-side processes with exhaustive buyer outreach. The firm's approach emphasizes:
- Broad Buyer Engagement: Contacting 200-400 targeted buyers per engagement, including private equity firms, strategic acquirers, and family offices
- Category Expertise: Leveraging deep industry knowledge to credibly position business stories to sector-specialized buyers
- Process Rigor: Comprehensive quality of earnings preparation, management presentation coaching, and structured data room management
- Senior Attention: Managing Directors are actively involved in all phases of the engagement
Typical engagement timeline is 6-9 months from engagement to close. The firm requires exclusivity and typically focuses on transactions above $25 million in enterprise value, though exceptions exist for exceptional founder-led businesses in core sectors.
Buyer Network
North Point maintains one of the consumer industry's most extensive buyer networks, built over 20+ years of exclusive focus on the sector. The firm's relationships span:
- Private Equity: 2,000+ active PE firms, with particular strength in consumer-focused funds like Roark Capital, Bain Capital, Leonard Green & Partners, Brentwood Associates, Main Post Partners, and Transom Capital Group
- Strategic Buyers: Public restaurant companies, food manufacturers, and consumer products companies seeking growth through acquisition
- Family Offices: High-net-worth families and family offices specializing in consumer investments
- International Buyers: Cross-border strategics, particularly European and Asian buyers seeking U.S. consumer exposure
This network depth enables North Point to run highly competitive processes that maximize valuation through buyer competition.
Competitive Positioning
North Point differentiates from other middle-market M&A advisors through:
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Pure Consumer Focus: The firm is exclusively consumer-focused, with 65+ professionals solely dedicated to M&A in restaurants, food & beverage, fitness, beauty/wellness, and consumer products
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Market Leadership: #1 ranked M&A advisor to the consumer sector by deal count since 2011, with greater than 50% market share in significant restaurant transactions
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Founder-Expertise: Deep experience working with founder-owned and family-led businesses, understanding the unique emotional and financial dynamics of selling a life's work
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Franchise Mastery: Unmatched expertise in franchising dynamics, representing both franchisors and large multi-unit franchisees in complex transaction structures
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Independence: As a pure-play M&A advisor without underwriting, lending, or research conflicts, North Point provides objective advice to Boards of Directors and special committees
Not a Fit If
North Point typically declines:
- Businesses below $10-25 million in enterprise value (with exceptions for exceptional brands)
- Pure asset sales or liquidations (the firm focuses on going-concern enterprises)
- Non-consumer sector businesses (the firm's expertise is exclusively consumer-focused)
- Founders seeking limited buyer outreach (North Point's value is in exhaustive processes)
- Transactions requiring underwriting or public securities offerings (the firm is M&A-only)
Team
North Point's 65+ person team operates across three offices (San Francisco, New York, Chicago) with over 500 years of combined M&A experience. The firm's leadership includes:
Senior Leadership:
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David Jacquin – Founder and Managing Director. Founded North Point in 2004 after leading M&A divisions at Piper Jaffray, Merrill Lynch, and Bank of America/Montgomery Securities. Began career as M&A attorney at Cravath, Swaine & Moore. J.D. with honors from Georgetown University, B.S. with honors from St. Louis University.
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Matt Kelly – Managing Director. CFA charter holder with 25+ years of M&A experience. Previously at Deutsche Bank and Franklin Resources. Focuses on consumer sector, restaurants, retail, and consumer products.
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Alex Lee – Managing Director. 20+ years of investment banking experience. Previously at Adams, Harkness & Hill. Stanford University graduate (B.A. Economics, B.S. Mathematics).
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Brian Oleniczak – Managing Director. Head of Consumer Products practice. Previously led B2B Consumer Products practice at William Blair. MBA and J.D. from Loyola University Chicago.
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Laura Provenzale – Managing Director. Head of Restaurant practice. Previously Partner and Managing Director at William Blair, where she led Restaurant Investment Banking. Nearly 30 years of experience.
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Jason Abt – Managing Director. Head of Winery practice. Previously led Winery and Restaurant practices at Houlihan Lokey for a decade. MBA from The Wharton School.
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Glen Clarke – Managing Director. Head of Food and Beverage practice. Previously led Food & Beverage practices at Baird and KeyBanc Capital Markets.
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Peter Hunt – Managing Director. Head of Healthcare practice. 25+ years of M&A experience, previously at J.P. Morgan, Bank of America/Montgomery Securities, and JMP Securities. Completed over $15 billion in transactions. Author of "Structuring Mergers & Acquisitions: A Guide to Creating Shareholder Value."
Geographic Coverage
Primary offices in San Francisco (headquarters), New York, and Chicago. The firm serves clients nationwide with particular concentration in markets with strong consumer and restaurant presence: California, New York, Illinois, Texas, Florida, Georgia, Colorado, and North Carolina. International capability through relationships with global private equity firms and cross-border strategic buyers.