Atlanta-based Tappan Street Restaurant Group, parent company of Taco Mac, announced that it has gained a new partner with an equity investment from CIC Partners, a Dallas-based private equity firm. The new investment provides the restaurant group the opportunity to further expand across the Southeast.
Currently with 28 restaurants in 3 states, the chain is one of the leading restaurant brands in the southeastern casual dining segment. Since Taco Mac was founded in 1979, the restaurant has become one the Southeast’s most beloved places to drink beer, watch a game, and enjoy original Buffalo-style chicken wings.
“We believe the partnership between Tappan Street and CIC is the right fit,” said Bob Campbell, Tappan Street Restaurant Group CEO. “With CIC as a partner we think we can double the size of the brand in the next 3 to 4 years while continuing to deliver an exceptional customer service driven experience.”
CIC Partners will closely collaborate with the Tappan Street Restaurant Group management team in the expansion. Fouad Bashour, a founding partner for CIC, will serve on the Taco Mac Board of Directors. “CIC Partners invests in brands with a proven track record in the marketplace and potential for significant growth,” said Fouad Bashour. “Taco Mac is truly a leader in the category and has strong unit-level economics and broad consumer appeal. We look forwarding to supporting the company’s growth initiatives.”
Arlington Capital Advisors of Birmingham, Alabama facilitated the partnership.
About Taco Mac
Taco Mac began in Atlanta in 1979 when a couple of guys from Buffalo, N.Y. made a pit stop in Atlanta on their way to Florida. After touring the city and enjoying the weather they decided to stay and bring a popular northern cuisine – Buffalo wings – to the sunny South. Thirty plus years later, Taco Mac now has 28 stores across metro Atlanta, Charlotte and Chattanooga, and continues to grow. Today Taco Mac restaurants have a large number of high-definition, flat-screen televisions on display for guests to enjoy local and national sporting competitions. Taco Mac, owned by Atlanta-based Tappan Street Restaurant Group, has also made a name for itself as an avid supporter of the community. From in-kind donations for a school giveaway to an annual golf tournament that raises funds for non-profit organizations, Taco Mac is dedicated to serving the communities that surround them.
About CIC Partners
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, healthcare and energy industries. CIC manages the personal capital of its investment team, Operating Partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its Operating Partners, who are successful CEO’s and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private-equity investing for its investors and management teams for over 25 years.
July 17, 2012