Z Capital Group affiliate FM Restaurants has confirmed the acquisition of certain assets of US chain Real Mex Restaurants via a court-supervised auction.
The company will also change the Real Mex Restaurants brand identity to Xperience XRG Restaurant Group.
Chief executive officer Randy Sharpe and chief financial officer Ned Algeo are now leading the rebranded business.
Sharpe said: “We are pleased to complete this acquisition and announce our new brand identity as we focus on our strategic growth priorities driven by best-in-class operational and organisational efficiencies.
“These are strong brands with loyal customers, supporting thousands of jobs in the communities we serve. As the restaurant industry evolves, we are confident that Xperience XRG is well-positioned to capitalise on its hospitality-focused culture and continue providing guests with an unparalleled dining experience and innovative menu offerings.”
In August, Real Mex signed the deal and voluntarily filed for bankruptcy under Chapter 11 of the US Bankruptcy Code for the District of Delaware to support the sale process.
Z Capital Group announced that it will offer $5.5m in debtor-in-possession financing to ensure an efficient bankruptcy and sale process, along with co-owner Tennenbaum Capital Partners.
Z Capital senior managing director Rahul Sawhney said: “The rebranding of the company to Xperience XRG speaks to an unfettered focus on the highest standards of everything that goes into the guest experience, including high-quality food and drinks, an inviting ambience and tremendous service.”
Xperience XRG currently operates various casual and fine dining brands such as Acapulco, Chevys Fresh Mex, El Torito, El Torito Grill, Las Brisas, Pink Taco and Sinigual.