Private equity company Ares Management said Wednesday it will invest in Woodridge-based Cooper's Hawk Winery & Restaurants.
Terms of the investment were not disclosed, but part of the deal included acquiring a minority holding in Cooper's Hawk from equity firm KarpReilly.
Los Angeles-based Ares Management said in a statement that investing in Cooper's Hawk was in line with its strategy of "supporting best-in-class growth businesses."
Founded by Tim McEnery in 2005, Cooper's Hawk has grown to become the world's largest wine club. with more than 400,000 members and 36 restaurants nationwide. It's unique business model of combining a modern casual restaurant, Napa-style tasting room, winery and artisanal retail market, has helped to build a loyal following among its members.
"Tim McEnery conceived of a disruptive restaurant concept and lifestyle brand," said David Kaplan, co-founder of Ares Management and global co-head of the Private Equity Group. "Tim's vision has resulted in an incredibly passionate consumer following, driving industry-leading growth and unit economics,"
McEnery said he will continue to own "a meaningful portion" of the company.
"With the significant resources across the Ares platform, we believe together we can accelerate our growth trajectory, while maintaining our relentless focus on delivering a tremendous experience and value proposition to our wine club members and guests," he said.