Trinity Capital, a boutique investment banking firm specializing in the restaurant and food service segments, announced the firm assisted Burgerbusters, Inc., a large operator of 117 Taco Bell restaurants in Virginia, in the completion of a 25-unit Taco Bell acquisition.
In representing Virginia Beach, Virginia-based Burgerbusters, Trinity advised the longtime Taco Bell franchisee on various aspects of the overall acquisition including the sale-leaseback of units, the sale of other properties, obtaining a credit facility and franchisor approval for the transaction. The units were acquired from Tacoma Inc., which have been Taco Bell franchisees for more than 25 years.
As a result of the acquisition Burgerbusters now operates approximately 142 locations and owns the majority of the Taco Bell locations in Virginia.
“Burgerbusters planned to grow in a contiguous model, and this acquisition enables the company to leverage its operational, financial and development skills with a broader store base,” says Kevin Burke, managing director of Trinity Capital. “This addition to their overall restaurant count makes Burgerbusters one of the larger Taco Bell operators in the U.S.”
“My relationship with Trinity dates back many years and includes several prior transactions. This latest transaction not only increased our unit count by more than 20 percent and expanded our footprint in Virginia, it also provided access to additional capital for continued growth,” says Tassos Paphites, chairman and CEO of Burgerbusters, Inc. “Trinity’s sound advice and seamless execution helped us complete a complicated deal on the best possible terms. I look forward to working with them again and highly recommend Trinity to anyone considering a transaction.”
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