Pink Taco announced today that it has executed lease agreements to open restaurants in Chicago and Miami as part of an accelerated growth strategy.
The two new planned Pink Taco restaurants, which will complement current locations in Los Angeles and Las Vegas, will be:
- A 9,600-square-foot space located at 162 West Hubbard Street (at the intersection with North Wells Street) in Chicago'srenowned River North neighborhood, featuring a wraparound seasonal outdoor patio and expected to open later this year; and
- A 5,000-square-foot oceanfront space located at 1200 Ocean Drive (at 12th Street) in Miami's South Beach, offering beautiful views and an expansive, year-round outdoor patio and scheduled to open in 2018.
In addition, Pink Taco is actively looking to expand by opening restaurants in other premier metropolitan areas across the United States, including New York City, Boston, San Francisco, and Washington, D.C. Pink Taco is focused on finding the right spaces for its unique restaurant experience in densely populated, high-profile urban areas that cater to a live, work, play lifestyle and benefit from convention, business, retail and tourism traffic.
"We are excited to introduce Pink Taco to Chicago and Miami and see this expansion as the next step in our plans to elevate the brand rapidly across the nation," said Mike Zoob, Pink Taco Vice President of Real Estate. "Pink Taco offers a unique dining experience that we believe is scalable when you match the operational know-how of our partners with the particular dining tastes and needs of local communities to create one-of-a-kind locations. We will continue to work with strategic real estate partners across the country to provide on-the-ground support in identifying and securing ideal urban locations for continued expansion."
Pink Taco was founded by Harry Morton, a third-generation restaurateur, at the Hard Rock Hotel & Casino Las Vegas in 1999, and its restaurants are known for serving a hip spin on tacos and tequila. Z Capital Partners, L.L.C. ("Z Capital Partners"), the private equity management arm of Z Capital Group, L.L.C, acquired Pink Taco in April 2016 to expand the brand across the United States and internationally by leveraging the restaurant operations, marketing and branding expertise of Real Mex Restaurants ("Real Mex"), the largest full-service, casual dining Mexican restaurant chain operator in the United States. Z Capital Partners has been the largest shareholder of Real Mex since 2013.
The Pink Taco restaurants in Chicago and Miami will be open for brunch, lunch and dinner as well as late-night hours, and will serve its craveable and seasonal food and drinks, including signature tacos, margaritas, salads, taco bowls and more. The company plans to deploy branded food trucks in each city months before the openings to introduce the Pink Taco food and culture.
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