Former Corporate-Owned Restaurants Located in Southern Louisiana
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.”
An affiliate of KFK Group, Southeast Restaurant Group was founded in 1999 and is a growing company that owns and operates both franchise and independent restaurant concepts across the Southern U.S. Headquartered in New Orleans, Southeast Restaurant Group possesses a strong track record of creativity and success in the restaurant industry. More information can be found at: www.southeastrestaurantgroup.com.
A pioneering and award-winning real estate development firm with an urban focus and extensive historic rehabilitation expertise, KFK Group has been developing impactful residential and commercial projects since 1996. KFK Group owns and operates a diverse portfolio of completed and ongoing projects that includes commercial, office, hotel, and multi-family holdings. For more information, visit www.kfkgroup.com.
Taco Bell Corp., a subsidiary of Yum! Brands, Inc. (NYSE: YUM), is the nation’s leading Mexican-inspired quick service restaurant (QSR) brand. From breakfast to late night, Taco Bell serves made-to-order and customizable tacos and burritos, among other craveable choices, and is the first QSR restaurant to offer American Vegetarian Association (AVA)-certified menu items. Taco Bell and its more than 350 franchise organizations proudly serve over 42 million customers each week through nearly 7,000 restaurants across the nation, as well as through its mobile, desktop, and delivery ordering services. Overseas, Taco Bell has over 250 restaurants, with plans to add 2,000 more restaurants internationally within the next decade. The brand encourages its fans to “Live Mas” and connects with them through sports, gaming and new music via its Feed The Beat music program. Taco Bell also provides education opportunities and serves the community through its nonprofit organization, the Taco Bell Foundation, and connects fans with their passions through programs such as the Live Mas Scholarship program. In 2016, Taco Bell was named as one of Fast Company’s Top 10 Most Innovative Companies in the World.