Mubadala unit acquires a US franchisee of Taco Bell
K-MAC operates over 300 Taco Bell restaurants, mostly in the midwestern and southern United States and represents approximately four per cent of the entire Taco Bell system
A unit owned by Abu Dhabi state fund Mubadala Investment Company has acquired one of the biggest franchisees of Taco Bell Corp in the United States, according to a statement on Thursday.
Mubadala Capital, an asset management subsidiary, bought K-MAC from Lee Equity Partners Opportunity Fund, the unit said in the statement on Thursday.
“The management team at K-MAC are among the best operators we have come across as an organisation, and we could not be happier to partner with them to drive K-MAC’s next phase of growth. They have built an exceptional business with a 40-year track record of innovation alongside the Taco Bell brand, as well as industry-leading operating performance that we are collectively looking to leverage across new concepts and formats to better serve each of their key demographics,” Adib Martin Mattar, head of Private Equity at Mubadala Capital, said.
K-MAC operates over 300 Taco Bell restaurants, mostly in the midwestern and southern United States and represents approximately four per cent of the entire Taco Bell system, it said.
“Mubadala Capital brings a unique network and new perspective to this partnership, and we are delighted to partner with an organisation that understands us as a management team, the value of operating excellence and the importance of our employees,” Tina Reagan, Chief Operating Officer at K-MAC, said.
The Abu Dhabi-based Mubadala Capital is an asset management subsidiary of Mubadala Investment Company, one of the world’s leading sovereign investors with $243 billion of assets under management. It has significant experience in the food and beverage space, having invested approximately $1.8 billion over the past seven years in this sector.
Recently, Mubadala Capital led a US $700 million investment round into REEF Technology, a US-based proximity-as-a-service platform enabling and accelerating the growth of the North American on-demand economy underpinned by food delivery with a portfolio that includes a number of leading QSR restaurant concepts in the United States.
US investment bank Goldman Sachs advised Mubadala Capital, while Bank of America and North Point advised the seller.
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