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One of the biggest Taco Bell franchisees in the country has been acquired by private equity firm Orangewood Partners. Terms of the deal were not disclosed.
Pacific Bells, LLC opened its first Taco Bell in 1986 in Oregon. The Vancouver-based company now has more than 250 locations in nine states, including Alabama, Arkansas, California, Mississippi, Ohio, Oregon, Tennessee, Washington, and Wisconsin.
Tom Cook, Pacific Bells’ founder and CEO, along with his existing management team are maintaining a minority stake in the company and will continue to operate the restaurants. The multi-unit franchisee will continue opening new stores in existing markets and acquiring stores in current and additional markets.
“Over the last 35 years, we’ve assembled a highly capable and dedicated team that strives to deliver an exceptional guest experience day in and day out. Our new partnership with Orangewood, an experienced, long-term investor with a focus on the QSR sector, will help continue the expansion of our Taco Bell portfolio and create more growth opportunities for our talented and dedicated employees,” said Cook.
This isn’t the first Taco Bell franchisee in New York-based Orangewood Partners portfolio. The company has a similar deal with ABTB, a Taco Bell multi-unit operator in Louisville, Kentucky.