Tasty Restaurant Group Reports Encouraging Sales Trends
May 22, 2020
Tasty Restaurant Group, operating affiliate of Triton Pacific’s Tasty Brands, recently reported an encouraging uptick in weekly sales for their consolidated portfolio of QSR (quick-service restaurants) store locations. For the weeks ended May 6, 2020 and May 13, 2020, sales were up 12.75% and 11.22% respectively above the weekly average for previous year 2019. This is particularly notable given that sales for the portfolio reached a low point in Week 13 of 2020 at 26.38% below the 2019 totals. Since that week, sales have been rebounding nicely, with an uptick in all but two weeks since the first week in April.
Tasty Brands LP invests in the chain restaurant industry. The first platform acquisition was completed on June 22, 2018 with the purchase of 64 Burger Kings in Iowa, Kansas, and Missouri. On December 17, 2019, the company completed the purchase of 117 Pizza Hut restaurants along with select strategic assets for an aggregate acquisition cost of approximately $80 million. The acquisition included 114 operating restaurants and three that were under development. The Pizza Hut restaurants are located throughout the states of Illinois, Kentucky, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia. Tasty Restaurant Group has reported there are more scheduled acquisitions scheduled for Q3 2020.
About Triton Pacific
Triton Pacific is a Los Angeles, CA-based private equity firm founded in 2001 and is the sponsor of Tasty Brands, LP, a tax advantaged offering focused on acquiring and operating nationally recognized quick-service restaurants. Tasty Brands has rapidly consolidated more than 180 restaurants across 10 states and 30 cities within the Burger King and Pizza Hut systems. Triton Pacific has sponsored four Reg. D offerings representing more than 50 private equity partnerships totaling $1 billion in assets and offerings.
Triton Pacific brings demonstrated expertise in areas including operations, capital markets, mergers & acquisitions, strategic planning, intellectual property, and technology. The firm has strong domain experience in a variety of industries including restaurants, healthcare, logistics, manufacturing, software, financial services, and business services. Triton Pacific provides unique access to high net worth investors with a focus on income-oriented private equity investments. The firm generally acquires controlling interests in small and mid-size companies where its expertise can enhance value for shareholders.
Source: Triton Pacific
