Private-investment firm High Bluff Capital Partners has acquired the Taco Del Mar quick-service chain from Franchise Brands LLC, the company said Monday.
San Diego, Calif.-based High Bluff in June completed its acquisition of the Quiznos parent QCE LLC. Terms of the deal to acquire Lynwood, Wash.-based Taco Del Mar were not disclosed.
“We see tremendous opportunity to continue to build out our platform in the mid-market restaurant franchise segment, which has many regionally strong concepts with significant growth potential,” said Gerry Lopez, High Bluff operating partner, in a statement.
Taco Del Mar opened its first restaurant in Seattle in 1992 and now has more than 100 franchised locations in the United States and Canada.
The concept’s menu items, which the brand emphasizes in its “Baja-style Coastal Mexican Cuisine” positioning, range from burritos and tacos to salads, bowls and enchiladas.
Lopez said Taco Del Mar fit well into High Bluff’s portfolio.
“Our approach is grounded in identifying brands that enjoy strong relationships with consumers that can benefit from the type of targeted capital, scale, management expertise and focus on innovation we bring to bear,” Lopez said.
The brand’s heritage in the Pacific Northwest, he added, provides “an excellent foundation to build upon as we look to leverage our platform to enhance support to the franchise base, develop and introduce fresh concepts that resonate with today’s consumers and broaden the brand’s appeal.”
Franchise Brands LLC, which was created in 2005 by founders of the Subway sandwich chain, bought the Taco Del Mar brand in a 2010 bankruptcy auction.
The Milford, Conn.-based Franchise Brands bid $3.3 million for the then-200-unit Taco Del Mar chain.
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