RECENT RELEASES
Encanto Restaurants, Inc.-
Business
Encanto Restaurants, Inc. (“Encanto”) was the sole franchisee in Puerto Rico of the highly successful Yum Brands, Inc. (“Yum”) concepts, including KFC, Pizza Hut and Taco Bell. With a 19% estimated market share based on total quick-service restaurant (“QSR”) expenditures, Encanto maintained one of the leading QSR positions in Puerto Rico, supported by established brands that have operated on the island for an average of 36 years and a portfolio of 180 stores in premium, high-traffic locations.
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Harvest Partners Investment
In August 2006, Harvest purchased Encanto with the existing management team. To fund the acquisition Harvest arranged the debt financing, which was comprised of a senior credit facility. In addition, Harvest underwrote and syndicated equity co-investment capital.
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Investment Thesis
- Market leading brand portfolio
- Store growth opportunity
- Stable market, steady cash flow generator
