Le Peep Restaurants of Indiana announced Friday evening that it and its five Indianapolis locations have been acquired by a local investment group.
Terms of the deal were not disclosed.
The locally based company also announced changes to its management team. Frank Skaggs, who has worked with Le Peep as a district manager for more than 20 years, will serve as vice president of operations.
“For 30 years, Le Peep has been a family-owned and locally operated company focusing on the highest-quality food, prepared and served by a world-class staff,” Kathleen Eckrich, Le Peep’s previous owner, said in a press release. “I am elated that the family culture and Le Peep legacy will continue to thrive and serve our community well into the future.”
Kathleen’s late husband, Bill Eckrich, founded Le Peep Restaurants of Indiana in 1988 as part of the national chain of licensed Le Peep restaurants. He died at the age of 55 in late September 2015.
Le Peep restaurants, which are open only for breakfast and lunch, have seen a deluge in new breakfast competition in the Indianapolis market in recent years, including the arrival of Another Broken Egg Cafe, First Watch, Wild Eggs and Yolk. Le Peep closed one of its locations, at 2258 W. 86th St., last year.
A Le Peep marketing representative would not identify members of the ownership group that bought the chain, beyond saying Skaggs was not part of it.
In a press release, Skaggs said the new owners will renovate the five remaining locations, beginning in the spring.
“I’m very excited about our expansion in the Indianapolis marketplace,” he said in the release. “Diners can expect the same outstanding customer service they have come to know and expect, plus, our menu will still have something for everyone … from our signature and much-loved dishes to new healthy menu options.”
Le Peep has locations at 8255 Craig St. in Castleton, at 301 N. Illinois St. downtown, 8487 Union Chapel Road in Fashion Mall Commons, 12213 N. Meridian St. in Hamilton Crossing, 6335 Intech Commons on the northwest side.
The Le Peep chain counts 48 restaurants in 14 states, according to its website.