Alabama-based Altamont Capital Partners and its portfolio company Tacala have acquired Austaco, which operates 80 Taco Bell restaurants in Austin, Waco and surrounding markets in the US.
With this acquisition, Tacala will become the largest franchisee in the Taco Bell system, owning and operating approximately 250 Taco Bell restaurants.
Following the acquisition, Tim Morrison and Joey Pierson, will continue to serve as Tacala's president and CFO, respectively while Austaco's core team will manage the Texas operations post-closing.
Commenting on the acquisition, Tacala's Tim Morrison said, "Austaco is a complementary addition to the Tacala platform given our similar values and our shared motto: Here to Serve."
Tacala operates Taco Bell restaurants in Alabama, Georgia, Tennessee, Texas, Kentucky, Virginia and North Carolina with a significant presence in each of its local markets.
The owners and managers of Tacala also own a related business, Boom Foods, which operates Sonic restaurants in Alabama, Georgia, Tennessee and Virginia.
