Golub Capital supports Café Rio Mexican Grill acquisition
Café Rio Mexican Grill is being acquired by Freeman Spogli & Co., according to a news release. This moves comes after Golub Capital announced it is providing a $146 million one-loan debt facility to support the move.
The 20-year-old Cafe Rio brand specializes in made-from-scratch, authentic Mexican dishes from Northern Mexico's Rio Grande region, southern Texas and New Mexico. The multiple award-winning chain has more than 100 locations in 11 states and was included in a previous list of Inc. magazine's Inc. 500, the release said.
"Cafe Rio's history of strong performance, consistent growth and experienced, responsible leadership aligns with our investment strategy of supporting high-potential middle market businesses with solid fundamentals," Golub Capital Managing Director Troy Oder, said in the release.
"We have a long track record of success alongside Freeman Spogli, and look forward to strengthening our relationship through our partnership on Cafe Rio."
The Cafe Rio financing follows a series of recent transactions that Golub Capital's Middle-Market Lending group has supported in the consumer, restaurant and retail sector in the last few months, according to the release.