Carlson selling TGI Fridays to two private investors

After growing TGI Fridays from 12 locations in 1975 to 934 in 2014, Minnetonka, Minn.-based Carlson Cos. is parting ways with its restaurant side.

According to the Star Tribune, Carlson is selling the brand to a pair of New York-based investment firms for undisclosed terms.

The acquiring firms are Sentinel Capital Partners, which has an extensive background in the restaurant business, and TriArtisan Capital Partners, the merchant banking arm of Morgan Joseph TriArtisan.

Read more from the Star Tribune.