Taco Bell franchisee Mas Restaurant Group has sold 43 Ohio restaurants to Southpaw, another franchisee, according to a Thursday press release. Financial terms were not disclosed.
Southpaw owns and operates over 180 Taco Bell and Dunkin’ restaurants across six states.
MRG will continue to operate 36 Taco Bell locations in the Houston market with backing from Bessemer Investments, a New York-based investment firm.
Earlier this month, MRG sold 44 of its Texas locations to Ghai Restaurant Group.
Since 2018, MRG has partnered with Bessemer to advance an organic growth strategy in addition to making strategic acquisitions, including its 2021 buyout of CL Companies in Ohio, which broadened the operator’s footprint.
“The tremendous value of these restaurants was built by the strength of our culture and the dedication of our team members,” Chad Motsinger, MRG’s CEO, said in a statement. “While we are passing the torch on these specific locations, our core mission of best-in-class customer service remains unchanged.”
Bessemer will continue to work with MRG on “future opportunities within the Taco Bell system as well as broader investments in the restaurant space,” said Andrew Mendelsohn, managing director at Bessemer.
Southpaw has been actively growing its portfolio. It bought 40 Taco Bell units in the Greater Atlanta area in 2023. With the latest acquisition, it will now have over 200 units with locations in Ohio, New York, New Jersey, Maryland, Kentucky, Georgia and Louisiana.
Franchisees have been actively buying significant groups of restaurants, sometimes even whole chains in recent years. JRI Hospitality bought 43 Freddy’s restaurants from HCI Hospitality in March. KBP bought 78 restaurants from Sonic in February. Franchisee OneRyan Global bought Mr. Gatti’s in January. Yadav Enterprises bought Del Taco last year for $115 million.
