Private equity firm Altamont Capital Partners purchased Tacala and Boom Foods, operators of fast-food chains.
Both companies are based in Birmingham, Ala. Tacala manages 162 Taco Bell stories in the southeastern U.S. Boom Foods operates 66 Sonic locations.
Altamont will look for opportunities to grow both businesses through store development and acquisitions.
Trinity Capital, Paul Hastings LLP and Burr & Forman LLP advised Tacala, while Ropes & Gray LLP advised Altamont.
Altamont, based in Palo Alto, has about $500 million in capital under management. The firm’s portfolio companies include McLarens Young International, J.D. Byrider and Robert Allen Group.