PE Deals

PE-backed Foodtastic acquires Quesada Burritos & Tacos

Foodtastic has been backed since 2018 by a joint venture of Oaktree Capital Management and JHR Capital.

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  • With the acquisition of Quesada, Foodtastic’s Canadian system will have more than 900 restaurants and $830 million in sales
  • Foodtastic plans to continue developing the Quesada brand, with more than 50 new locations expected to open over the next 36 months
  • Last year, Oaktree and JHR invested an additional C$50 million in the company

Foodtastic, a Montreal-based franchisor of restaurant brands, has acquired Toronto-based Quesada Burritos & Tacos. No financial terms were disclosed.

Founded in 2004, Quesada is quick-service restaurant brand providing burritos, tacos, and salsas. It operates 175-plus restaurants in 8 provinces. Foodtastic plans to continue developing the brand, with more than 50 new locations expected to open over the next 36 months.

With the acquisition of Quesada, Foodtastic’s Canadian system will have more than 900 restaurants and $830 million in sales. Its brands include Second Cup, Pita Pit, Milestones, Fionn McCool’s, Shoeless Joe’s, Au Coq, La Belle et La Boeuf and Monza.

“We are extraordinarily proud of our franchisee partners, front line workers and corporate team. With their support, we have grown Quesada from a single store into plus 175 locations across eight provinces. We are excited about the future of the brand and believe that as part of Foodtastic our franchisees will reach new levels of success,” said Steve Gill, founder and CEO of Quesada in a statement.

Foodtastic has been backed since 2018 by a joint venture of Oaktree Capital Management and JHR Capital. Last year, Oaktree and JHR invested an additional C$50 million in the company.