Mas Restaurant Group (MRG), a Taco Bell franchise operator backed by New York-based investment company Bessemer Investors, has divested 43 restaurants in Ohio to Southpaw.
Financial terms of the deal were not made public.
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Southpaw owns and operates more than 180 Taco Bell restaurants and Dunkin’s in Georgia, Kentucky, Louisiana, Maryland, New Jersey and New York.
MRG CEO Chad Motsinger said: “The tremendous value of these restaurants was built by the strength of our culture and the dedication of our team members.
“While we are passing the torch on these specific locations, our core mission of best-in-class customer service remains unchanged.
“The success we’ve seen across our Ohio locations is a perfect example of what happens when a team is fully backed by the right partners, and we are excited to keep building on that strong foundation.”
Earlier in the month, MRG completed the sale of 44 Taco Bell restaurants in Houston to Ghai Restaurant Group.
Following these disposals, MRG retained and will continue to operate 36 Taco Bell sites in the Houston area, continuing its partnership with Bessemer in that market.
Bessemer first took a stake in MRG in 2018, investing alongside Motsinger and MRG chief financial officer Ben Walsh.
Commenting on the latest deal, Bessemer managing director Andrew Mendelsohn said: “We are extremely pleased with this latest successful transaction, which underscores the strength of MRG’s operations and the robust footprint built in Ohio.
“Bessemer remains a dedicated partner to MRG, and we look forward to working together on future opportunities within the Taco Bell system, as well as broader investments in the restaurant space.”
