LOS ANGELES, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Tasty Restaurant Group, a wholly-owned affiliate of Los Angeles-based private equity firm Triton Pacific, announced today that its affiliate, Tasty Hut, completed the acquisition of 37 franchised Pizza Hut restaurants.
The acquisition builds upon Tasty Hut’s current Pizza Hut portfolio, and includes thirty-four (34) locations in Northern Virginia and three (3) locations in West Virginia. Tasty Restaurant Group will manage the portfolio and oversee its daily operations.
“We are thrilled to expand our Pizza Hut portfolio and increase our market share within the region. The addition of these locations will enhance our existing portfolio in Virginia and West Virginia, and improve operational economies of scale,” said Craig Faggen, Triton Pacific’s CEO. “Quick service restaurants continue to perform well and have adapted to new safety and operational procedures. Pizza Hut was the first national chain to introduce contactless curbside pickup, and we are pleased to be part of an organization that puts the interests of its team members, customers and the communities it serves first.”
Tasty Restaurant Group’s portfolio includes 153 Pizza Hut restaurants and 63 Burger King restaurants in 10 states. This acquisition builds upon its relationship with Yum! Brands, which controls the Pizza Hut, KFC, Taco Bell and Habit Burger Grill brands.
About Tasty Restaurant Group
Tasty Restaurant Group, LLC, is a vertically integrated quick service restaurant operator which brings in-depth leadership experience and expertise in operating, building, and exiting restaurant investments. The company provides management of portfolio companies controlled by Tasty Brands, LP. Its leadership team brings over 35 years of experience and has operated over 47,000 franchisee/franchisor locations.
About Triton Pacific
Triton Pacific, founded in 2001, is a private equity firm offering income and growth investment programs for both accredited investors. The firm focuses on investing in established small and mid-size companies across multiple sectors that exhibit attractive fundamentals, including quick service restaurants.