NEW YORK, Dec. 2, 2015 /PRNewswire/ -- Palladium Equity Partners, LLC (along with its affiliates, "Palladium"), a private investment firm with over $2.0 billion in assets under management, today announced that affiliates of the firm have completed the sale of TB Corporation, parent of the Taco Bueno restaurant chain. Taco Bueno is a quality, quick service restaurant plus (QSR+) chain offering an authentic, fresher Tex-Mex experience at 177 restaurants in Texas, Oklahoma, Missouri, Kansas, Arkansas, Louisiana, and Colorado.
Since acquiring Taco Bueno in August 2005, Palladium oversaw a number of strategic initiatives to strengthen the brand and position the Company well for its next stage of growth. These initiatives included a new brand campaign, a successful expansion into the Colorado market, recruitment of several key executives to the senior team, the refresh of over half of the Taco Bueno restaurant network, and introductions of new products that underscore the brand's Tex-Mex roots.
Edward M. Lambert, outgoing Chairman Taco Bueno, said, "The Company's decade-long investment partnership with Palladium has enabled Taco Bueno to realize the brand's full potential as 'Tex-Mex Made Fresh.' The support of Palladium, together with the hard work of Taco Bueno's dedicated employees and management team, laid the foundation for continued growth of the brand."
"We are very pleased with the outcome we have achieved," said Marcos A. Rodriguez, Chairman and CEO of Palladium. "Guided by Ed's leadership and an excellent management team, Taco Bueno strengthened its brand, expanded its base of passionate customers and built a larger market footprint. We believe the Company is well-positioned to enter its next phase of growth with significant momentum."
Details of the transaction were not disclosed.
About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with over $2.0 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has invested over $1.5 billion of capital in more than 25 platform investments and over 50 add-on acquisitions. The firm focuses primarily on buyout equity investments in the range of $50 million to $150 million. The principals of the firm have significant experience in financial services, business services, food, healthcare, industrial and media businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium is based in New York City. For more information, visit www.palladiumequity.com.
SOURCE Palladium Equity Partners