US-based private equity firm Triton Pacific Capital Partners has announced that its portfolio company Tasty Chick’n has concluded the purchase of a two-unit KFC Restaurant operator in Alabama, US.
Triton Pacific paid below $300,000 for each restaurant.
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The restaurants are located in Colbert County, Alabama, in the north-western area of the state and form part of the Florence-Muscle Shoals MSA metropolitan area.
Triton Pacific CEO Craig Faggen said: “We are excited to expand our presence in Alabama and are encouraged by the growth prospects of this acquisition.
“KFC is a known leader in the quick service restaurant industry, and these two restaurants fit well into our existing Alabama territory, further supporting Tasty Chick’n’s growth and investment approach.
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“We expect these restaurants to be key contributors to the broader portfolio and its value creation strategy.”
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By GlobalDataThe private equity company noted that the purchase will be a strategic add-on investment for Tasty Chick’n, which operates five KFC restaurants in Alabama.
It added that the two restaurants already have long-term franchise agreements with no capital expenditure needs in the near term.
The two are also said to have reported positive same-store sales and traffic growth in multiple consecutive periods while offering strong expansion prospects.
Triton Pacific’s affiliated restaurant management firm Tasty Restaurant Group manages around 400 quick-service restaurants.
It also manages restaurant brands such as Pizza Hut, Burger King, Dunkin’, Baskin-Robbins and Taco Bell throughout 22 states in the US.
