Citizens Capital Markets & Advisory announced that it has served as the exclusive financial advisor to Mosaic Management and Mosaic Red Hat Group in the sale of 40 Arby's restaurants. These establishments, located across Florida, North Carolina, and Virginia, have been acquired by AES Restaurant Group, an Indianapolis-based company. With this acquisition, AES becomes the second-largest Arby's franchisee, now operating 229 restaurants across 17 states. This transaction highlights the strategic collaboration between Mosaic and Citizens, with both parties expressing satisfaction over the seamless execution of the deal. Mosaic will continue its operations as a Burger King franchisee.
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