JUNE 2011 M O N T H L Y U P D A T E

Sweet 100 officially announces an investment in Cucina Enoteca, a sister restaurant of Cucina Urbana, which is

based in San Diego, CA. Cucina Enoteca has signed a lease and will open its first location at the Irvine Spectrum in Irvine, CA. The new

restaurant will be located directly across from Edwards Cinema and will join other national and regional

retailers including the Cheesecake Factory, California Pizza Kitchen, Javier’s , and Paul Martin’s American Bistro restaurant.

Cucina Enoteca will consist of approximately 6,245 sq ft + 2,200 sq ft of patio. The space will offer various

seating options similar to the San Diego location including community table, pizza counter, bar, dining room, semi-private dining area and patio seating.

Sweet 100 announces investment in Cucina Enoteca

Left, Cucina Urbana located in San Diego, CA is the sister restaurant of Cucina Enoteca.

Stating that the past three years in

the restaurant industry have been

difficult would probably cause most

experienced restauranteurs to laugh

and/or hit me over the head. While

growth has been achieved within

the Fast Casual Dining Category

and specific concepts such as

Chipotle, Jersey Mike’s, and Five

Guys have taken advantage of the

perfect storm, as a whole the

industry has taken a real beating.

As with any good beating you either

stay down or you pick yourself up,

eat better, hit the gym, and workout

harder. We have seen a survival of

the fittest mentality in our industry,

as savy restauranteurs have had to

dig in, refocus, and in many instances

reinvent themselves. A greater

emphasis has been put on

operational efficiency, sound

economics, and on making good real

estate and development decisions.

From all this hard work, it is about

time that we see some positive

results.

So finally some good news,

according to the National

Restaurant Association, restaurant

industry sales should see a 3.2

percent increase from 2010 and

reach approximately $604 billion in

2011. The NRA further reported

that restaurant industry news

remained positive in April with

same-store sales and solid optimism

among restaurant operators for

continued growth. The National

Restaurant Association’s Restaurant

Performance Index (RPI), which

tracks the health of the U.S.

restaurant industry stood at 100.9

in April representing the fifth

consecutive month in which the RPI

stood above 100, which signifies

expansion in the index of key

industry indicators.

The RPI is constructed so that the

health of the restaurant industry is

measured in relation to a steady

state level of base value of 100.

Index values above 100 indicate that

key industry indicators are in a

period of expansion, and index

values below 100 represent a

period of contraction for key

industry indicators. (See the graph

below) Moving into the second half

of 2011, like many of our colleagues

in private equity, we see strength in

the restaurant industry as all the

blood, sweat and tears of the

restaurant operator have begun to

pay dividends for the operator, the

consumer, and the investor.

Restaurant Industry expected to finish strong

On Tuesday, May 3rd, Sweet 100

held an event at Cucina Urbana in

San Diego to announce the launch

of its first investment fund,

Emerging Restaurant Fund I, LLC.

Emerging Restaurant Fund I, LLC is

an investment fund which will be

focused on providing capital to

early stage restaurant brands with

strong upside growth potential. To

qualify as a potential investment for

the fund, the restaurant brand must

have a track record including 2-3

years of financial data with strong

existing cash flow and an

experienced operational team.

Emerging Restaurant Fund I, LLC

will be managed by Sweet 100 and

will benefit from the leadership of a

strong board of restaurant industry

executives including the former

CEO of Sonic Corporation, and a

board member of Mastro’s

Steakhouse, McCormick and

Schmick’s, and Oregano’s.

Sweet 100 is focused on becoming

an industry leading, restaurant

investment and management

company. To learn more about

Sweet 100 go to

www.sweetonehundred.com.

Sweet 100 holds event announcing launch of Emerging Restaurant Fund I, LLC.

MANAGEMENT TEAM

MIKE DINORSCIACO-FOUNDER AND

MANAGING DIRECTOR

MICHAEL SPILKYCO-FOUNDER AND

DIRECTOR

WHILE THE RESTAURANT INDUSTRY IS CONSIDERED TO BE RISKY, WE ARE NOT INVESTING IN STARTUP CONCEPTS. OUR STRATEGY IS BUILD ON DEVELOPING AND INVESTING IN ESTABLISHED AND EMERGING RESTAURANT BRANDS.