Cassel Salpeter Facilitates Chapter 11 Sale of Restaurant Chain PLANTA
MIAMI – August 26, 2025 – The special situations practice group of Cassel Salpeter & Co. (“Cassel Salpeter”), an independent investment banking firm that provides advisory services to middle market and emerging growth companies, announced that it has successfully facilitated the sale of substantially all of the assets of CHG US Holdings LLC, parent company of restaurant chain PLANTA, to New CHG US Holdings, LLC, a newly formed entity affiliated with Anchorage Capital Group. The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of Delaware.
Founded in Toronto in 2016, PLANTA is a premier operator of upscale, full-service plant-based restaurants across high-profile locations in the United States and Canada. Operating under a portfolio of multiple concepts, including PLANTA Global, PLANTA Queen, and PLANTA Cocina, the brand is recognized for its vegan cuisine, luxurious décor and seating, and vibrant bar programs, with liquor licenses secured at each location. PLANTA elected to file for protection under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware in May of 2025.
Cassel Salpeter was retained by PLANTA to lead an accelerated post-petition marketing process, targeting a broad spectrum of potential strategic and financial buyers. The process generated strong interest from multiple parties, culminating in the selection of a bid received by New CHG US Holdings, LLC,which was determined to offer the best outcome to maximize value for stakeholders and ensure business continuity. As a result of the successful restructuring, eight locations across North America will remain in operation. Additionally, Cassel Salpeter facilitated the sale of ancillary assets, including a newly issued liquor license and lease rights for one location.
The Cassel Salpeter team was led by Chairman James Cassel and Managing Director Philip Cassel, with the assistance of Director Laura Salpeter, Senior Associate Edward Kropf and Associate Charles Davis.
The PLANTA team was led by Steven Salm.Joseph C. Barsalona II, Michael J. Custer and Katherine Beilin of Pashman Stein Walder Hayden P.C.served as counsel for the debtor. Wen Rittsteuer, Alex Cariveau and Logan Brinks of NOVO Advisorsserved as financial advisors to the debtor, with Rittsteuer serving as Chief Restructuring Office of CHG US Holdings LLC.
The committee of unsecured creditors was represented by Peter Hurwitz, Lee Rooney and Jack Poynter of Dundon Advisers LLC as financial advisors. Gianfranco Finizio, Kelly E. Moynihan and Carolyn M. Gauvin of Lowenstein Sandler LLP and Christopher M. Samis, Aaron H. Stulman and Maria Kotsiras of Potter Anderson & Corroon LLP served as counsel for the unsecured creditors.
