Restaurants & Hospitality Acquisitions in Tennessee

Birmingham-based Tacala acquired nine 7 Brew drive-thru cafes from Brew Team TN in Tennessee, increasing its 7 Brew portfolio to 31 locations. Tacala, a portfolio company of Altamont Capital Partners and the largest Taco Bell franchisee in the U.S., continues to expand its quick-service footprint while focusing on managing its Taco Bell and 7 Brew businesses.

Elia, a Detroit-based real estate and hospitality developer led by Zaid Elia, has acquired The Valentine, a 9,000 sq. ft. music-city venue on Lower Broadway in Nashville. Elia plans to refresh the space while preserving its character, introduce its Experience Zuzu dining concept, and continue expanding its restaurant and nightlife footprint in key U.S. markets.

SPB Hospitality, a Fortress-owned restaurant operator, completed the acquisition of J. Alexander's Holdings, Inc. for approximately $220 million in cash, adding 47 polished-casual restaurants to its portfolio. The transaction was approved by J. Alexander's shareholders and expands SPB's full-service dining footprint across the United States.

Centre Partners completed the acquisition of Captain D's Seafood and affiliated entities; financial terms were not disclosed. Yukon Partners and Onex Falcon provided junior/mezzanine financing to support the transaction, and Captain D's management reinvested and will remain in place; the company is headquartered in Nashville, Tennessee and operates over 500 quick-service seafood restaurants across the United States. Sentinel Capital Partners sold the business.