Shari's Restaurants Sold To Its Execs, Fairmont Capital

BEAVERTON, Ore. - Shari's Management, the largest privately held family-style restaurant chain in the Northwest, has been acquired by its senior management and a California investment group.

The new investors are led by Fairmont Capital, a private company in Orange County, Calif., that plans to expand the chain.

"Everyone at Shari's is very excited because Fairmont and its partners are investing in our plans for growth," said Larry Curtis, Shari's president and chief operating officer.

The Beaverton-based company has 96 restaurants in seven Western states, including about 20 in the Puget Sound area.

Shari's, which had been owned by Larry Hatfield and John Elorriaga since 1989, has more than 4,000 employees with annual sales of $128 million.