Orangewood Partners and ABDD Capital today announced they have formed a partnership and have acquired 24 Taco Bell Stores in the Greater Louisville, KY market. Financial Terms of the transaction were not disclosed.
Founded in 2009 and led by Judd and Erica Wishnow, ABDD currently operates 86 quick service restaurants in the United States. Under the partnership, ABDD's management team will operate the stores. Orangewood and ABDD also intend to open new stores in existing markets and acquire additional stores in other markets.
Judd and Erica Wishnow, co-Founders of ABDD, stated, "We are thrilled to enter the Louisville market, which has deep ties to YUM! and Taco Bell. This is a high-quality portfolio of Taco Bell stores that has a fantastic team in place with a long track record of success, and we plan to deliver best-in-class service and true value to our customers for many years to come. We look forward to working with Orangewood to capture the tremendous opportunities ahead."
Alan Goldfarb, Founder and Managing Partner of Orangewood added, "For nearly a decade, Judd and Erica have demonstrated the ability to successfully acquire and efficiently operate restaurants, and we are excited to partner with them and the entire ABDD team to grow the business. We are also excited to work with Taco Bell - a great company and an incredibly strong brand that has broad appeal and a very loyal customer base."
Ropes & Gray LLP, Thompson Hine LLP, Fried, Frank Harris, Shriver & Jacobson LLP and Paris Ackerman LLP provided legal advice on this transaction.
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