Orangewood Partners and ABDD Capital have purchased 24 stores of American fast food restaurants chain Taco Bell in the Greater Louisville, Kentucky, US.
Financial terms of the acquisition, which was carried out through a partnership formed between Orangewood and ABDD, remain undisclosed.
The stores will be operated by ABDD’s management team.
A subsidiary of Yum! Brands, Taco Bell’s offerings include tacos, burritos, quesadillas and nachos, among others.
ABDD co-founders Judd and Erica Wishnow said: “We are thrilled to enter the Louisville market, which has deep ties to YUM! and Taco Bell. This is a high-quality portfolio of Taco Bell stores that has a fantastic team in place with a long track record of success, and we plan to deliver best-in-class service and true value to our customers for many years to come. We look forward to working with Orangewood to capture the tremendous opportunities ahead.”
Orangewood founder and managing partner Alan Goldfarb added: “For nearly a decade, Judd and Erica have demonstrated the ability to successfully acquire and efficiently operate restaurants, and we are excited to partner with them and the entire ABDD team to grow the business. We are also excited to work with Taco Bell – a great company and an incredibly strong brand that has broad appeal and a very loyal customer base.”
Ropes & Gray, Thompson Hine, Fried, Frank Harris, Shriver & Jacobson and Paris Ackerman served as legal advisors on this transaction.
Founded in 2009, ABDD currently operates 86 quick service restaurants (QSR) in the US. Its current QSR portfolio includes 86 Dunkin’ Donuts and Taco Bell locations in New York, New Jersey, Arizona and Kentucky.