Onex Group, a Toronto-based private equity firm, has sold Alabama-based Jack’s Family Restaurants for 3.6 times the original investment in 2015. Although the terms and buyer’s identity have not been disclosed, Onex has received US$835 million in proceeds from the transaction.

Jack’s have had a recent string of good business, generating US$163.3 million in 2018, a 7.1 percent increase from 2017. This growth is expected to continue, as well.