Sagittarius Brands finalizes purchase of Del Taco
Del Taco is the second largest Mexican food chain in the U.S.
31/03/06 Sagittarius Brands, the Nashville-based parent company for Captain's D's Seafood, a pioneer in quick service casual seafood dining, completed the purchase of Del Taco, the country's second largest Mexican food chain with headquarters in Lake Forest, CA, and announced that franchise veteran C. Ronald Petty will lead Sagittarius Brands in all its new store development activities.
Veteran international chain restaurant operators Sid Feltenstein, Chairman of Sagittarius Brands, and Ron Powell, President and CEO of Sagittarius Brands, announced completion of the transaction. Private equity investors in the acquisition are Grotech Capital, Charles Bank Capital Partners, and Leonard Green & Partners, LP, and Stockwell Capital.
Feltenstein and Powell, who were instrumental in the growth and eventual sale of other major international quick service brand name restaurants, said the transaction will give Sagittarius Brands more than 1,000 units across the United States and system-wide sales in excess of $1-billion annually.
Feltenstein also announced that Petty, president, Del Taco, Inc., has been appointed President-Development in charge of franchising, construction, real estate and co-branding for Sagittarius Brands.
Petty, a 33-year franchising veteran has held executive leadership roles with many of the world's leading restaurant brand names including McDonald's Corp., Burger King, Miami Subs, and Denny's, has served as president of the west coast based Del Taco since 1998. He currently is a board member of Fantastic Sam's, Inc. and has served on the boards of Carroll's Corporation and Child-Help USA. He has been honored by City of Hope and Save-the-Children for his contribution to children's causes.
Founded in 1969, Captain D's offers customers a menu of seafood featuring its signature dish of hand cut and hand battered fried fish along with baked or broiled fish, shrimp, chicken and home-style side dishes. There are 600 Captain D's restaurants in 26 of the United States and the Caribbean, plus military bases around the world.
Del Taco was founded in 1964. There are 400 Del Taco restaurants in 13 states offering a menu of Mexican food items such as tacos, burritos, quesadillas, burgers, French fries and soft drinks.
