Orangewood Partners, a long-term focused private investment firm, has purchased Pacific Bells, a large franchisee of the Taco Bell brand, from Partners Group.
Pacific Bells operates over 250 Taco Bell restaurants with over 6,000 employees, making the firm the 5th largest franchisee in the country. Since its partnership with the Partners Group, the firm has tripled the amount of stores and entered new markets in Wisconsin, California, Mississippi, Tennessee and Alabama.
“We have thoroughly enjoyed our partnership with Partners Group and the firm’s entrepreneurial governance approach has played a key role in driving our sustainable growth in recent years,” said Tom Cook, Pacific Bells CEO.
“Pacific Bells is strongly positioned in the fast-growing, highly fragmented quick restaurant service sector and enjoys resilient cashflows,” addedSujit John, managing director at Partners Group
Ropes & Gray advised Partners Group on the transaction.