Orangewood Partners, a New York-based private investment firm, and large operator ABDD Capital on Monday said they have formed a partnership and acquired 24 Taco Bell locations in the Louisville, Ky., area.
Terms of the deal, including the seller, were not disclosed.
Judd and Erica Wishnow founded ABDD, which currently operates 86 quick-service locations, including Taco Bell and Dunkin’ Donuts. The company’s locations are in New York, New Jersey, Arizona and Kentucky.
“This is a high-quality portfolio of Taco Bell stores that has a fantastic team in place with a long track record of success,” they said in a statement.
The company will continue to operate the locations. But it now has a partner in Orangewood, which takes a long-term approach to investing and pursues both equity and credit investments. Alan Goldfarb, former managing director with The Carlyle Group, founded the company in 2015.
Goldfarb called Taco Bell “a great company and an incredibly strong brand that has broad appeal and a very loyal customer base.”