Advent International Sells $153 Million in First Watch Stock

Boston-based Advent International reported a substantial decrease in its stake in First Watch Restaurant Group (NASDAQ:FWRG) as of September 30, 2025, with a net reduction of approximately $152.89 million. According to a Securities and Exchange Commission filing dated November 14, 2025, Advent International, L.P. sold 9,400,000 shares. Post-sale, its holdings now stand at 5,289,784 shares, valued at $82.73 million.

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