Taco Bell franchisee Mas Restaurant Group (MRG) has sold 44 of its Houston locations in the US.
MRG operates 123 restaurants across the metro areas of Houston, Texas, and Columbus, Ohio.
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Backed by New York-based investment company Bessemer Investors, the franchisee sold the assets to quick-service restaurant operator Ghai Restaurant Group.
Financial details of the transaction were not disclosed.
MRG chief financial officer Ben Walsh said: “I am proud of the service we’ve delivered to our communities in Columbus and Houston, and I am excited to continue to work at MRG alongside Bessemer in this next phase of growth.”
Bessemer teamed up with MRG in 2018 alongside Chad Motsinger and Ben Walsh to support the company’s next stage of expansion.
Since then, MRG has pursued both organic growth and acquisitions, including the 2021 purchase of CL Companies in Ohio, which expanded its presence in that market.
MRG CEO Chad Motsinger said: “MRG’s success has always been rooted in the strength of our culture and the exceptional team we have built, united by a commitment to delivering best-in-class service to our customers.
“Our people are the heart of our business, and we could not have accomplished this without the dedication of our team.”
Bessemer managing director Andrew Mendelsohn said: “Our partnership with MRG over the past seven and a half years has been a resounding success, and this sale marks the next step in the company’s progression.
“This outcome would not have been possible without the tireless efforts of the entire MRG team, and we are pleased to continue supporting them through the next chapter.”
Unbridled Capital and Piper Sandler & Co served as financial advisers to MRG for the deal. Sidley Austin acted as legal counsel.
In March, Australian restaurant operator Collins Foods agreed to hand over 20 of its 27 Taco Bell locations to an affiliate of Yum! Brands and Restaurant Brands Australia.
The deal was confirmed for a “nominal” price, plus stock and cash floats, with the buyers taking on lease liabilities for the 20 sites.
