Xperience Restaurant Group, an operator of Mexican restaurants, has acquired two Chevys Fresh Mex units in the greater St. Louis area. No financial terms were disclosed. XRG is backed by Z Capital Partners.
LOS ANGELES, Jan. 6, 2020 /PRNewswire/ — Xperience Restaurant Group (“XRG” or the “Company”), one of the largest operators of full-service Mexican restaurants based in California and a portfolio company of Z Capital Partners, the private equity arm of Z Capital Group (“Z Capital”), today announced the acquisition of two Chevys Fresh Mex (“Chevys”) units in the greater St. Louis area, both of which were previously owned and managed under a franchise agreement.
Founded in 1986 in Northern California, Chevys offers traditional Mexican dishes with California inspired Mesquite-fired flavors from scratch every day. Using only fresh, top-quality ingredients in its beloved recipes, Chevys creates rich flavors and delivers superior hospitality to customers across the country. Over the past year, Chevys has continued to expand its culinary offerings by introducing new menu items and new dining segments.
The newly acquired units are the latest additions to XRG’s portfolio of corporate-owned Chevys restaurants, which now total 14 units. As of January 2020, XRG’s portfolio totals 60 corporate-owned units and consists of other leading Mexican restaurant brands, including Acapulco, El Torito, SOL and solita. XRG completed its acquisitions of the SOL and solita brands in November 2019.
“We are thrilled to add two more Chevys units and continue to deliver the high-quality service, fresh culinary perspective and an unmatched dining experience for which the brand and XRG are known,” said Randy Sharpe, Chief Executive Officer of Xperience Restaurant Group. “Chevys remains a cornerstone of our portfolio, and we look forward to executing on additional opportunities to grow this brand and position XRG for success for years to come.”
About Xperience Restaurant Group
Headquartered in Cypress, California, Xperience Restaurant Group is one of the nation’s leading operators of casual, polished casual, and fine dining brands. XRG concepts include Acapulco, Chevys Fresh Mex, El Torito, El Torito Grill, Las Brisas, Who Song and Larry’s, Sinigual, SOL and solita. For more information, please visit www.xperiencerg.com.
About Chevys Fresh Mex®
Chevys Fresh Mex is known for its sizzling fajitas, mouthwatering guacamole, flautas, and handcrafted margaritas…no one does them better. Offering a “Fresh Mex” take on Mexican cuisine, Chevys uses fresh ingredients to make their food from scratch daily. For more information, visit www.chevys.com.
About Z Capital
Z Capital is a leading, privately held global investment firm having approximately $2.8 billion of assets under management across complementary opportunistic, value-oriented private equity and credit businesses.
Z Capital’s investors are some of the largest and most sophisticated global institutional investors including public and corporate pension funds, university endowments, foundations, sovereign wealth funds, central banks, and insurance companies. The Z Capital investment strategies are described at www.zcapgroup.net.