Firm partners with management to grow leading quick-service restaurant franchisee
Palo Alto, CA and Birmingham, AL, December 20, 2012 — Altamont Capital Partners (Altamont) today announced that it has acquired Tacala, LLC and a related company, Boom Foods, LLC, in partnership with management. Tacala is one of the nation’s largest franchisees of Taco Bell, operating 162 stores in the Southeastern United States. Boom Foods is a leading Sonic, America’s Drive-In franchisee with 66 locations. Management will continue to look for opportunities to grow in both businesses through new store development and acquisitions.
The businesses will be led by Tim Morrison and Joey Pierson, who will continue as Tacala’s President and CFO, respectively. Don Ghareeb, who founded the business with Dick Reese in 1989, will remain an active board member and advisor to the companies. “I am extremely proud of the business and legacy my partners and I have built over the last 24 years. My co-managing partner, Elizabeth Ghareeb, has also been instrumental in the companies’ success,” Don commented. He added: “I’m very confident in our management team and believe that Altamont is the right capital partner for Tacala’s continued growth.”
Echoing that sentiment, Randall Eason, Managing Director of Altamont said: “We are thrilled to partner with Tim, Joey and the rest of the management team. Don has created a world class organization and that was a big part of our attraction to the company. We look forward to the opportunity to contribute to the terrific platform they have built.”
Steve Brownlie, Principal of Altamont, added: “Tacala’s growth and success are testaments to both the strength of the Taco Bell brand and to the talent of the Tacala management team.”
Based in Birmingham, AL, Tacala operates Taco Bell restaurants in Alabama, Georgia, Tennessee, Kentucky, Virginia, and North Carolina with a significant presence in each of its local markets. Boom operates Sonic restaurants in Alabama, Georgia, Tennessee, and Virginia.
Trinity Capital, Paul Hastings LLP, and Burr & Forman LLP advised Tacala while Ropes & Gray LLP advised and represented Altamont.
ABOUT TACALA LLC and BOOM FOODS LLC
Tacala is a leading Taco Bell quick service restaurant franchisee based in Birmingham, AL. Boom Foods is a leading Sonic, America’s Drive-In franchisee based in Birmingham, AL.
ABOUT ALTAMONT CAPITAL PARTNERS
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with approximately $500 million of capital under management. 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 financial services, consumer/retail, industrials, healthcare and business services.