Industry News | June 28, 2005
Taco Bueno’s Parent Company Sold to Palladium Equity Partners
New York-based private equity firm Palladium Equity Partners has announced that it has signed a definitive agreement to acquire TB Corporation, parent of the Taco Bueno restaurant chain, from Jacobson Partners, another private equity firm based in New York.
Taco Bueno is a premium quality, quick-service restaurant chain offering Mexican cuisine in locations in Texas, Oklahoma, and Kansas. Founded in 1967 and based in Dallas, Taco Bueno is an established market leader, distinguished by the high quality and freshness of its food, scope of menu, speed and convenience of its service, and reputation for consumer value. With 136 restaurants in three states, operations are currently clustered in Taco Bueno's primary markets of Dallas/Ft. Worth, Abilene, Texas, Oklahoma City and Tulsa, Oklahoma. Taco Bueno's revenues for 2004 were approximately $140m.
"We are very pleased to have reached an agreement to acquire Taco Bueno, one of the fastest-growing Mexican food chains in the quick serve restaurant sector," says Peter A. Joseph, managing director of Palladium Equity Partners. "The Taco Bueno concept is well established in its existing markets, and the company has posted consistent sales and EBITDA growth. Known for both the quality of its food and the speed and convenience of its service, Taco Bueno has benefited from the widespread and growing popularity of Hispanic flavors and cuisine. We are excited about growth prospects for the company and have identified substantial opportunities through the organic growth of existing stores, expansion into additional regional markets, and expansion of the company's franchising program."
Benjamin R. Jacobson, managing general partner of Jacobson Partners says, "We are proud to have partnered with the current management team on what has been an outstanding investment. Taco Bueno has consistently exceeded our expectations over the past four years, and we wish Palladium great success on their plans to capitalize on the growth opportunities available to the company."
The transaction, subject to customary regulatory approvals, is expected to close by Aug. 2.
Food & Beverage
Thank you for signing up to receive QSR's flagship e-newsletter, A.M. Jolt. To help us better serve the information needs of our audience, please complete the information below.
In addition to A.M. Jolt, we also offer the following e-newsletters and communications. Please mark those you would like to receive.
- Business Services
- Cleaning & Sanitation
- Computer Systems/Software
- Dispensing Equipment
- Disposables, Packaging, Plastics
- Equipment Installation/Repair
- Financial Products/Services
- Food Products
- Franchise Opportunities
- Kitchen Equipment
- Safety Services/Products
- Security Systems