Operations

Sun Holdings acquires Freebirds

Photo: Freebirds

August 19, 2024

Sun Holdings, a restaurant company managing a portfolio of over 1,500 restaurants and retail locations, has acquired Freebirds World Burrito, a Texas-based brand with 64 locations from Tavistock Restaurant Group. Its creativity and individuality make it a perfect addition to Sun Holdings' brands, including Applebee's, Arby's, Burger King, Golden Corral, IHOP, McAlister's and Popeye's, said Guillermo Perales, CEO of Sun Holdings.

"Freebirds brings a distinct and vibrant energy to our portfolio," he said in a company press release. "The brand's commitment to quality ingredients and a customer-centric approach resonates well with us as operators. We believe we can learn from Freebirds in customer engagement and menu innovation, while bringing our expertise in operations and growth

Terms of the deal were not disclosed.

"This acquisition is especially notable for Sun Holdings as it demonstrates our ability to grow not just as a franchisee, but as a brand owner. Freebirds is poised for growth, and we have an ambitious expansion strategy that we are excited to get to work on," Perales added.

The transaction was facilitated with the expertise of Vin Batra from Soravine Advisors on the buyer's side, Susan Miller and Sean Mirzabegian of Morgan Kingston Advisors on the seller's side. The deal was led by Taylor Bennett, chief legal officer of Sun Holdings, and Marcelo Lopez, director of FP&A, M&A of Sun Holdings.

Tavistock had owned Freebirds since 2007.