PALO ALTO, Calif. and BIRMINGHAM, Ala., Dec. 18, 2013 /PRNewswire/ -- Altamont Capital Partners (Altamont) and its portfolio company, Tacala LLC, today announced that Tacala has acquired Austaco, Ltd. Austaco operates 80 Taco Bell restaurants in Austin, Waco and surrounding markets.
"We have built a very special company over the past 45 years serving people: our customers and our employees. It is with confidence and excitement that we have entrusted Altamont and Tacala, based on their history of leadership and alignment with our organization, to further the Taco Bell business in some of the best communities in the country," said Dirk and Katie Dozier of Austaco.
Following the acquisition, Tacala will own and operate approximately 250 Taco Bell restaurants and will be the largest franchisee in the Taco Bell system. The combined business will be led by Tim Morrison and Joey Pierson, who will continue to serve as Tacala's President and CFO, respectively. Austaco's core team will continue to manage the Texas operations post-closing.
Commenting on the acquisition, Tacala's Tim Morrison said, "Austaco is a complementary addition to the Tacala platform given our similar values and our shared motto: Here to Serve. We are excited to welcome the Austaco team into the Tacala family and look forward to working together to continue to grow the business in the years to come."
Randall Eason, Managing Director of Altamont, added, "Over the past year, we have seen firsthand the industry-leading product innovation and marketing capabilities of the Taco Bell brand. We are excited to continue to invest alongside Tacala's best-in-class management team in the Taco Bell system. Austaco is a perfect fit with Tacala and the markets Austaco serves add significant new store development opportunities for Tacala going forward."
About Tacala LLC
Based in Birmingham, AL, Tacala operates Taco Bell restaurants in Alabama, Georgia, Tennessee, Texas, Kentucky, Virginia and North Carolina with a significant presence in each of its local markets. The owners and managers of Tacala also own a related business, Boom Foods, which operates Sonic restaurants in Alabama, Georgia, Tennessee and Virginia.
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The Firm's principals have significant experience building business success stories across a range of industries, including consumer/retail, financial services, business services, industrials and healthcare.
SOURCE Altamont Capital Partners