Growing portfolio company affiliated with Triton Pacific Capital Partners sees more opportunity for add-on acquisitions
Los Angeles-based franchise operator Tasty Chick’n LLC has completed the acquisition of 90 KFC units across eight states, the company said Tuesday.
Tasty Chick’n is part of the restaurant management company Tasty Restaurant Group, which is affiliated with private-equity firm Triton Pacific Capital Partners. The restaurant group manages close to 370 quick-service restaurants on behalf of Triton Pacific-sponsored funds, including Pizza Hut, Burger King, Dunkin’, Baskin-Robbins, KFC and Taco Bell across 16 states.
The 90 KFC units include 15 KFC/Taco Bell combination restaurants, which the company said will provide an entry point into the Taco Bell brand. Terms of the deal were not disclosed and Tasty officials did not identify the seller.
“We are thrilled to expand our relationship with Yum! Brands and are enthusiastic about the future growth opportunity this transaction affords,” said Craig Faggen, Triton Pacific’s CEO. “KFC is a long-standing leader within the chicken category for quick-service restaurants. The industry, however, remains highly fragmented, and the opportunity to purchase a sizable, well-established business such as this is limited. As a platform investment, we view tremendous growth potential through add-on acquisitions and new unit development.”
In 2021, Tasty Chick’n acquired 21 Dunkin’ locations, and in 2020 Tasty Restaurant Group picked up 37 Pizza Hut locations in Virginia and West Virginia, as well as five Burger King units in Iowa
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