Arkansas-based K-MAC Holdings Corp. announced it has acquired No Limits LLC, a Missouri-based Taco Bell franchisee that owns and operates 25 Taco Bell restaurants.
Rafe Montgomery has owned a controlling interest in No Limits since 1999.
K-MAC is one of the largest Taco Bell franchisees in the U.S. and also operates KFC and Golden Corral restaurants. It currently operates 237 restaurants across the three different brands.
K-MAC is led by President and CEO Sam Fiori and COO Tina Reagan.
"Rafe Montgomery has built a first class organization, and we are very excited to have his business become part of the K-MAC family," Fiori said.
Reagan added that the No Limits restaurants are geographically and culturally a "perfect fit" for K-MAC.
K-MAC is owned by Brentwood Associates, a Los Angeles-based private equity investment firm, which made its initial investment in K-MAC in March 2011.
"This acquisition allows K-MAC to extend its reach and propel its growth," said Rahul Aggarwal, Brentwood Associates' managing director.
K-MAC had legal representation from Burr & Forman LLP. No Limits was advised by Auspex Capital LLC, with legal representation from Winthrop Weinstine.
Read more franchising news.