On June 22, Tasty Brands, LP, a Triton Pacific Company, completed its first platform acquisition and established itself as a Burger King franchisee, with a significant presence in Iowa, Kansas and Missouri. Tasty Brands, LP funded the acquisition of the Burger King Restaurants with a combination of debt and proceeds from its offering. “We are excited to complete Tasty Brands’ acquisition of the 64 Burger Kings restaurants, demonstrating our ability to raise and deploy capital to fully support the target distribution yield,” says Brian Buehler, partner of Triton Pacific & CEO of Triton Pacific Securities, LLC.
Approximately half of the purchase price was financed through Signature Financial as a senior fixed rate loan, with remainder funded by Tasty Brands, LP. “Our financing terms reflect our long-standing relationships with various financial institutions and we look forward to their continued support as we pursue additional acquisitions for Tasty Brands” said Tom Scott, Managing Partner of Triton Pacific.
“In conjunction with the acquisition of the Burger King Restaurants, Tasty Brands, LP has established itself as a ‘strategic partner’ of Burger King Corporation. Tasty King also anticipates having the opportunity to accretively acquire additional smaller operators within the territory as well as have the support of Burger King Corporation to pursue acquisition opportunities in adjacent markets,” says Craig Faggen, CEO & Managing Partner of Triton Pacific.
Triton Pacific, a Los Angeles based Private Equity firm founded in 2001, has sponsored Private Equity partnerships totaling $1 Billion in assets and offerings. Triton Pacific offers a unique approach for retail investors by providing access to income producing Private Equity to both accredited and non-accredited investors.
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