PNC Riverarch Buys Burger King Operator Goldco
The deal follows PE firm Altamount Capital's purchase of Taco Bell and Sonic operators
Private equity firm PNC Riverarch Capital has acquired Goldco LLC, a Burger King franchisee.
Goldco operates 96 Burger King locations.
PNC Riverarch was formed by PNC Financial Services Group Inc. (NYSE:PNC) in March 2011. The firm’s portfolio companies include Environmental Express and New Carbon Co. Terms of the deal weren’t disclosed.
NXT Capital provided a $27 million senior secured credit facility to fund the deal.
In December, PE firm Altamont Capital Partners bought Tacala and Boom Foods, which operate Taco Bell and Sonic locations in the U.S.
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