Chicago-based private equity firm Uncommon Equity has acquired HopCat, the Michigan-based gastropub chain known for its craft beer and scratch-made menu. Financial terms were not disclosed, but the deal marks Uncommon Equity’s latest investment in the restaurant and hospitality sector.
Founded in 2008, HopCat operates 12 restaurants—11 in Michigan and one in Nebraska—and also owns Stella’s Lounge in Grand Rapids. The chain, which emerged from bankruptcy in 2020 after a $17.5 million sale, has rebounded post-pandemic, opening new locations and recording nearly 10% growth in systemwide sales last year, reaching $46.7 million, according to Technomic data.
HopCat CEO Craig Stage said the new ownership will continue to build on the brand’s community-focused approach. “We see this transition not as a change of direction, but as a continuation of what HopCat does best – bringing people together,” he said, adding that Uncommon Equity’s backing will fuel new location growth and innovation while maintaining its Midwest hospitality roots.
Founded in 2015, Uncommon Equity (formerly City Capital Ventures) manages several restaurant holdings, including Rackson Restaurants—a Burger King and Dave’s Hot Chicken operator—and Redberry Restaurants, a franchisee of Burger King, Taco Bell, and Jersey Mike’s. As part of the acquisition, Uncommon Equity’s CEO Dan Kipp and partners Gary Graves and Rob Selati will join HopCat’s board.
Source: Restaurant Business
