Butterfly Equity Acquires QDOBA and Merges It into Modern Restaurant Concepts
August 9, 2022
Butterfly Equity agreed to acquire QDOBA from funds managed by Apollo and merge the brand into Modern Restaurant Concepts (which includes Modern Market Eatery and Lemonade), creating a leading fast-casual restaurant platform of roughly 800 units. King Street Capital Management is investing alongside Butterfly; the transaction aims to accelerate franchising, system growth and catering expansion across the combined platform. Terms were not disclosed.
- Targets
- QDOBA Mexican Eats
- Sellers
- Apollo Global Management
- Platforms
- Modern Restaurant Concepts
- Industry
- Restaurants & Hospitality
- Location
- California, United States
- Transaction Type
- Addon
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