Latest Real Mex Restaurants News
Oct 29, 2018
Z Capital acquires certain Real Mex Restaurants, forms Xperience XRG October 29, 2018 PRESS RELEASE NEW YORK, Oct. 29, 2018 /PRNewswire/ — FM Restaurants HoldCo, LLC (“FM Restaurants”), an affiliate of Z Capital Group, LLC (“Z Capital”), a leading alternative asset manager of opportunistic, value-oriented private equity and credit funds, today announced that it has completed the acquisition of certain assets of Real Mex Restaurants through a court-supervised auction and will change its brand identity to Xperience XRG Restaurant Group (“Xperience XRG” or “the Company”). Xperience XRG is led by recently appointed Chief Executive Officer Randy Sharpe and Chief Financial Officer Ned Algeo, both seasoned executives with track records of operational and financial success at a variety of multi-concept restaurant brands. The Xperience XRG portfolio will comprise a number of leading casual and fine dining brands, including Acapulco, Chevys Fresh Mex, El Torito, El Torito Grill, Las Brisas, Pink Taco and Sinigual. “We are pleased to complete this acquisition and announce our new brand identity as we focus on our strategic growth priorities driven by best-in-class operational and organizational efficiencies,” said Randy Sharpe, Xperience XRG’s Chief Executive Officer. “These are strong brands with loyal customers, supporting thousands of jobs in the communities we serve. As the restaurant industry evolves, we are confident that Xperience XRG is well-positioned to capitalize on its hospitality-focused culture and continue providing guests with an unparalleled dining experience and innovative menu offerings.” “Randy and Ned have a deep understanding of consumer trends and have had a great deal of success cultivating premier restaurant brands, and we are excited to partner with them,” said James Zenni, Z Capital’s President and Chief Executive Officer. “We look forward to this next chapter with Xperience XRG as we pursue organic growth opportunities to expand our national footprint and simultaneously enhance the portfolio through strategic acquisitions to drive value for our stakeholders.” “We are excited to combine the best of well-established concepts with substantial industry talent throughout the Company to position it for continued growth and success,” said Rahul Sawhney, Senior Managing Director of Z Capital. “The rebranding of the Company to Xperience XRG speaks to an unfettered focus on the highest standards of everything that goes into the guest experience including high-quality food and drinks, an inviting ambiance and tremendous service.” About Xperience XRG Headquartered in Cypress, Calif., Xperience XRG Restaurant Group is one of the nation’s leading operators of casual and fine dining brands. Xperience XRG brands include Acapulco, Chevys Fresh Mex, El Torito, El Torito Grill, Las Brisas, Pink Taco and Sinigual. For more information, please visit www.xperiencerg.com. About Z Capital Z Capital and its subsidiaries are a leading alternative asset management firm with approximately $2.3 billion of regulatory assets under management. For over two decades, the leadership of Z Capital has worked together to realize significant capital appreciation by making controlling equity investments in companies across a diverse array of industries including consumer, gaming, hospitality, industrial and automotive. Z Capital creates value for its investors by collaborating with talented management teams to generate investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies. The Z Capital Private Equity Funds’ portfolio companies are within numerous industries, have aggregate annual revenues of approximately $1.3 billion, sell products in 57 countries, and have over 11,000 employees and an excess of 200,000 associates, directly and through joint ventures worldwide. The Z Capital investment strategy and portfolio companies are described at www.zcapgroup.net.