Private-equity firm with a taste for restaurants snaps up Mexican casual-dining chain
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.
Contact Ron Ruggless at [email protected]
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