Private-equity firm L Catterton has acquired the 29-unit Uncle Julio’s Mexican casual-dining chain, the companies said Wednesday.
Greenwich, Conn.-based L Catterton said it planned to accelerate expansion of Dallas-based Uncle Julio’s, which was founded in 1986 and has restaurants in seven states. Terms of the deal were not disclosed.
"Uncle Julio’s is a unique and authentic upscale dining experience with an on-trend brand and broad consumer appeal," said Andrew C. Taub, managing partner in L Catterton's Buyout Fund, in a statement. “Uncle Julio’s is a leader in the growing polished-casual Mexican restaurant space, and its differentiated concept resonates across a variety of occasions and demographics.”
Taub added that L Catterton would work with Uncle Julio’s to accelerate expansion.
Tom Vogel, Uncle Julio’s president and CEO, said the Mexican-themed concept was “impressed by L Catterton’s unparalleled experience growing leading restaurant brands and deep understanding of consumer food and beverage trends. …”
L Catterton has a deep history in restaurant investments, including past holdings in such companies as Bloomin’ Brands Inc., Cheddar’s Scratch Kitchen, First Watch and P.F. Chang’s China Bistro.
The private-equity firm’s current investments include Anthony’s Coal Fired Pizza, Chopt Creative Salad Co., Hopdoddy Burger Bar, Mendocino Farms, Noodles & Company, Piada Italian Street Food, Protein Bar, Primanti Bros., Punch Bowl Social, Snap Kitchen and Velvet Taco.
Uncle Julio’s has restaurants in Florida, Georgia, Illinois, Maryland, Tennessee, Texas and Virginia.
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