Triton Pacific Capital Partners reported that its portfolio company, Tasty Chick’n LLC, has purchased 90 franchised KFC restaurants across eight states, including 15 KFC/Taco Bell combination restaurant locations. The purchase price was not disclosed.
This acquisition is the group’s second brand platform, having completed an acquisition of 21 Dunkin’ stores in July 2021. Triton said that with this latest acquisition, Tasty Chick’n is now positioned for “significant growth” within the KFC system, and the co-branded locations also provide “an attractive entry point” into the Taco Bell brand.
“KFC is a long-standing leader within the chicken category for quick service restaurants,” said Craig Faggen, Triton Pacific’s chief executive officer. “The industry, however, remains highly-fragmented, and the opportunity to purchase a sizable, well-established business such as this is limited. As a platform investment, we view tremendous growth potential through add-on acquisitions and new unit development.”
Triton Pacific’s affiliated restaurant management company, Tasty Restaurant Group, manages a portfolio of nearly 370 quick service restaurants on behalf of Triton Pacific sponsored funds. These restaurants include brands such as Pizza Hut, Burger King, Dunkin’, Baskin-Robbins, KFC and Taco Bell operations across 16 states.
Triton Pacific, founded in 2001, is a private equity firm that offers investment programs for both institutional and high net worth investors. The firm focuses on investing in established small and mid-size companies across multiple sectors.
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