Fast-food franchisee Ghai Restaurants has acquired 44 Taco Bell restaurants in Houston, vastly expanding its portfolio of the Mexican eateries.
The deal comes as Taco Bell parent Yum Brands is looking to bring its location count to 10,000 and higher within the next decade, from its current 9,000. "We're messin' with Texas!" Ghai said in a post on its LinkedIn page.
Livermore, California-based Ghai purchased the Lone Star Taco Bell locations from Houston-based Mas Restaurant Group, which is backed by private equity firm Bessemer Investors.
Terms of the deal weren't disclosed Monday.
New York-based Bessemer partnered with Mas Restaurant Group in 2018 to support the company's next phase of growth. As a result, Mas Restaurant Group said it expanded its holdings, a strategy that included the 2021 acquisition of CL Cos. in Ohio and its 36 Taco Bells.
Ghai is growing its footprint beyond California and Oregon. Before its latest acquisition, Ghai had over 150 locations, including 115 Burger King, 35 Taco Bell and seven Blaze Pizza restaurants, according to the company's LinkedIn page.
Louisville, Kentucky-based Yum Brands is also the parent of Pizza Hut, KFC and Habit Burger & Grill. Taco Bell is now Yum Brands’ biggest driver of domestic sales and store growth.
Before selling to Ghai, Mas Restaurant Group operated 123 Taco Bell restaurants in Texas and Ohio.
For the record
Piper Sandler & Co. and Unbridled Capital served as financial advisers to Mas Restaurant Group, and Sidley Austin served as legal counsel.