Kirkland & Ellis advised Butterfly Equity, a Los Angeles, California-based private equity firm specializing in the food sector, and its portfolio company, Modern Restaurant Concepts, on Butterfly’s acquisition of QDOBA, the No. 2 player and No. 1 franchisor in the Mexican fast casual restaurant sector in North America, from funds managed by affiliates of Apollo. Following the transaction, Qdoba will join MRC’s industry-leading “better-for-you” fast casual restaurant platform currently consisting of two brands, Modern Market Eatery and Lemonade. As part of the transaction, King Street Capital Management, a leading global alternative asset manager, is investing alongside Butterfly. Terms of the transaction were not disclosed. The transaction is expected to close in Q3 2022.
Read the Butterfly press release
The Kirkland team was led by corporate partners Ravi Agarwal and Christopher Burwell and associates Tonna Onyendu and Chrissy Pak, debt finance partners Ben Steadman and Melissa Hutson, and tax partner Benjamin Schreiner, with support from corporate partner Sean Rodgers.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press releaseThe advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
