LOL - Well in the discussion that we may/or may not have had...LOL...I remember saying that I have actually heard of Lawrence Hatch before and know people who worked with Wellspring Capital - and they are EXACTALLY the kind of team that would be able to get a deal like this done. They have the funds to do it and, of what I understand from talking to a few people, the way the buyer approached BIHC to take Baron's is Hatch's style.
In addition, they are private, they secured the Yankee stadium deal - had their eye on the Mets deal as well, and Baron's would have come to their attention when they won the Mets contract - which matches perfectly with the timing of the buyout....
So, it is theoretically possible that they saw Baron’s win the Mets contract and said – lets grab this company – it is cheap and fits our business model to “own” all the concession elements of the Metro area….
So my money has been on Hatch and Legends Hospitality Management for months - but in the end, I didn't (and still really don't) think "who the buyer is" matters until we are pushing numbers well beyond a "normal" M&A and have to start being concerned that the buyer doesn't have what it takes to get the deal done...
In the end, I don't know - but that is my take....
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