Southeast Restaurant Group Purchases 8 Taco Bell Restaurants
RestaurantNews.com – Southeast Restaurant Group (“SRG”), which currently operates 28 restaurants in Louisiana, Texas, Arkansas, Tennessee, Mississippi, Alabama, and Florida, announced today the purchase of eight Taco Bell restaurants located in New Orleans, Covington, Mandeville, and Slidell, Louisiana.
The purchase of the Taco Bell restaurants not only expands SRG’s portfolio of restaurants and real estate in the New Orleans market, but adds a Quick-Service brand to an already diverse portfolio of eateries throughout the Southeast. While specific financial terms of the transaction were not disclosed, financing for the acquisition was provided by Fifth Third Bank’s Retail Banking Division.
“Taco Bell is not only a classic but also an innovator,” said Elie Khoury, President and CEO of KFK Group, parent company of SRG. “The opportunity to become a part of the Taco Bell franchise system is rare and we are excited to blend in our expertise to grow the brand in and around our home here in New Orleans.”
The 200 team members employed at the eight restaurants will join a family of over 2,000 currently employed by KFK Group and Southeast Restaurant Group across its multiple lines of business. This network of team members is founded on a culture of values that focuses on integrity, creativity, accountability, leadership, and fun.
SRG’s purchase of stores previously operated by Taco Bell of America also comes with a commitment to develop new locations in the New Orleans Designated Market Area over the next six years. The acquisition underscores Taco Bell’s commitment to partnering with financially strong franchisees who not only have multi-unit restaurant experience, but also a culture that aligns with Taco Bell’s mindset.
“Southeast Restaurant Group has a proven a track record of success in restaurants, hospitality, and development, making it a perfect fit with Taco Bell,” said Marci DuBois, Sr. Franchise Recruiting Manager, Taco Bell Corp. “SRG and Taco Bell share a passion for feeding people’s lives with Más and are committed to building our communities.”