Taco Bueno Amends Existing Credit Agreement; Pays Dividend to Shareholders
NEW YORK, Jan. 10, 2012 /PRNewswire/ -- Taco Bueno Restaurants announced today that it has amended its existing credit agreement to increase financial flexibility and to pay a dividend to shareholders. Taco Bueno is a Mexican quick-service restaurant chain founded in 1967, which currently operates 161 Company-owned restaurants in Texas, Oklahoma, Kansas, and Missouri as well as 23 franchise stores. The company has been a portfolio company of affiliates of Palladium Equity Partners, LLC (together with its affiliates, "Palladium"), a private investment firm based in New York since August 2005.
Alex Ventosa, a Managing Director at Palladium, said, "Taco Bueno is a leading regional brand with a strong presence in core markets that offer tremendous opportunities for growth. Over the past six years, we have seen the Company use the strength of its brand and geographic positioning to capitalize on these opportunities, including the growth of the franchising business, new territory development and extension of menu offerings. The Company has delivered record-setting quarters in terms of revenues and cash flow in 2011, and its existing lenders have recognized this solid operating performance. This amendment allows the Company the financial flexibility to continue pursuing future opportunities for growth."
Ed Lambert, CEO of Taco Bueno, said, "Over the past six years, Taco Bueno has maintained an excellent partnership with Palladium, which has enabled us to grow as a company while maintaining our rich heritage. Our customers have a strong passion for the brand and we will continue to provide the service and food quality that they expect. We look forward to continuing our partnership with Palladium as we pursue the market opportunities that lie ahead for Taco Bueno."
About Taco Bueno (www.tacobueno.com)
Taco Bueno is a Mexican quick-service restaurant concept offering quality food that is "More Real, More Fresh, More Bueno™". Founded in 1967 in Abilene, Texas, Taco Bueno today has nearly 190 locations in Arkansas, Kansas, Louisiana, Missouri, New Mexico, Oklahoma, and Texas.
About Palladium Equity Partners (www.palladiumequity.com)
Palladium targets investments in food and restaurant companies as well as consumer and retail, business services, financial services, healthcare, industrial and media businesses. Palladium has a focus on companies that are well-positioned to capitalize on the fast-growing U.S. Hispanic market. The principals of Palladium have directed investments of over $1.0 billion of equity in more than 45 portfolio companies over the last two decades.
For Palladium Equity Partners
Media Relations Contacts: Jeff Taufield or Lyndsey Estin
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SOURCE Taco Bueno