Taco Bueno Completes $118 Million Credit Facility
NEW YORK, Dec. 20, 2012 /PRNewswire/ -- TB Corp. ("Taco Bueno" or the "Company") today announced the completion of a new $118 million credit facility. Taco Bueno is a Mexican quick-service restaurant chain founded in 1967, which currently operates 155 Company-owned restaurants in Texas, Oklahoma, Kansas, and Missouri, as well as 20 franchise-owned restaurants. Taco Bueno has been a portfolio company of private equity funds affiliated with Palladium Equity Partners, L.L.C. (together with its affiliates, "Palladium") since August 2005.
The new debt arrangements will allow Taco Bueno to refinance existing debt, providing the Company with greater financial flexibility, and to pay a dividend to existing shareholders.
Edward M. Lambert, CEO of Taco Bueno said, "Building upon more than seven years of investment partnership with Palladium, we continue to be pleased with Taco Bueno's financial results, and we share much excitement about its potential in the years to come. We are leveraging the strength of Taco Bueno's brand and geographic positioning to capitalize on a number of important growth opportunities, including store growth within our core markets, new territory development, and the extension of menu offerings."
"We appreciate the continued support of Palladium, which, together with the hard work of our dedicated employees and management team, has put us in a strong position for continued growth in the future," Mr. Lambert concluded.
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 (www.palladiumequity.com)
Palladium is a middle market private equity firm with over $1 billion of assets under management focused primarily on buyout investments. Palladium seeks to acquire and grow companies in partnership with experienced management teams, with a special focus on companies benefiting from the growth in the U.S. Hispanic population. Palladium principals have been actively involved in the investment of $1.5 billion of capital in approximately 50 portfolio companies since 1989 and have significant experience in financial services, business services, food, restaurants, healthcare, industrial, and media businesses. Palladium was founded in 1997 and is headquartered in New York City.
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SOURCE Palladium Equity Partners, L.L.C.