Edit
Financing

El Torito owner buys 2 more casual Mexican brands

The deal expands Xperience Restaurant Group’s holdings to nine brands and 62 restaurants.
Solita Tacos & Margaritas
Photograph: Shutterstock

The parent of El Torito and Chevys Fresh Mex has added two more full-service Mexican concepts to its fold: Sol Mexican Cocina and Solita Tacos & Margaritas.

Terms of the deal, including the identity of the two brands’ seller, were not disclosed. 

The acquisition extends the holdings of Xperience Restaurant Group (XRG), formerly known as Real Mex Restaurants, to nine restaurant brands and 62 company restaurants. The other concepts include El Torito Grill, Acapulco, Who Song & Larry’s, Las Brisas and Sinigual. All feature Tex-Mex fare in a full-service setting.

Sol and Solita collectively operate six restaurants. Sol features made-from-scratch specialities of Mexico’s coastal region. Solita is a more casual riff, with a focus on margaritas and tacos. 

Real Mex was renamed Xperience after being acquired out of bankruptcy for $47 million by the private-equity firm Z Capital. Xperience is led by CEO Randy Sharpe, who rejoined the operation last October after working for Macaroni Grill. At one time, the company had 128 restaurants.

“Our goal from day one has been to optimize our existing brands while simultaneously identifying attractive opportunities for growth," Sharpe said in a statement. “As the casual-dining sector continues to evolve, we look forward to identifying and executing on acquisition opportunities that will further position XRG for long-term growth and success."

Want breaking news at your fingertips?

Get today’s need-to-know restaurant industry intelligence. Sign up to receive texts from Restaurant Business on news and insights that matter to your brand.

Trending

More from our partners