Private equity firm General Atlantic has acquired a minority stake in Torchy’s Tacos, a “fast-casual” restaurant that serves tacos. The PE firm is now a shareholder among the target’s five founding partners. Financial terms of the investment were not disclosed.
Torchy's Tacos was born out of an Austin, Texas-based food truck in 2006. Today, the target serves untraditional tacos to customers in 46 locations across Texas, Colorado and Oklahoma. The menu at Torchy’s Tacos consists of breakfast tacos, lunch tacos with barbacoa and fresh avocado, sides including guacamole and salsa, green chile queso dips, street corn, and dark chocolate brownies called “love puppies.”