Del Taco Signs New 10-Unit Franchise Development Agreement in Virginia Beach
Del Taco Restaurants (NASDAQ: TACO) has announced a franchise agreement to open 10 new units in Virginia, marking its expansion into the 17th state. Franchisees Bharat Patel and Steve Kissel of Virginia Taco, LLC will introduce the brand in cities like Virginia Beach and Chesapeake. This move aligns with Del Taco's strategy to enhance its presence in the Southeast as indicated by SVP of Development Jeff Little. Del Taco is actively seeking more multi-unit operators for further growth, particularly in the Carolinas and surrounding regions.
- Expansion into Virginia increases market presence to 17 states.
- Franchise agreement to open 10 units, indicating strong growth potential.
- Experienced franchise partners with a solid track record in the QSR sector.
- None.
The Leading Mexican Chain Continues its Expansion Throughout the Southeast as Virginia is Expected to Become its 17th State
LAKE FOREST, Calif., Sept. 13, 2021 (GLOBE NEWSWIRE) -- Del Taco Restaurants, Inc. (NASDAQ: TACO), the nation’s second largest Mexican quick service restaurant*, has signed a deal with successful franchisees Bharat Patel and Steve Kissel of Virginia Taco, LLC (“Virginia Taco”) to open 10 units in the state of Virginia – a new state on the Del Taco roster. The deal will give the franchise group rights to open in Virginia Beach, Chesapeake, Portsmouth, Norfolk, Hampton, and Newport News and helps pave the way for additional growth in Southern Virginia and throughout the Carolinas.
“Since inception in 2000, we’ve been able to rapidly expand our portfolio to include household names such as Subway, Tropical Smoothie, Mahi’s and more and are thrilled to add Del Taco to that list,” said Bharat Patel, CEO of Virginia Taco. “Del Taco is an influential brand, so the opportunity to introduce it to the state of Virginia was one that we wanted to jump on immediately. We know that the concept, combined with our expertise in this market, is a great partnership and we look forward to seeing many years of growth ahead.”
With an extensive background in hotel development and having opened his first QSR franchise in 2004, Patel specializes in real estate and development as CEO of Virginia Taco, ensuring the company’s portfolio includes a diverse list of concepts that are scalable and influential. Known for his work with concepts like Cactus Jack’s, Aqua Social Club and Mahi’s Seafood, Kissel’s side of the duo lies within operations and making sure each restaurant and hotel runs smoothly with a dedication to customer service and experience.
“We’ve set our sights on expanding Del Taco’s presence throughout the broader Southeast region for several years now. Finding the right franchise partner in Southern Virginia, a new area for the brand to create raving Del Taco fans is just another fantastic step in realizing our expansion goals,” said Jeff Little, SVP of Development. “The team at Virginia Taco has an impressive track record and their values perfectly align with Del Taco’s, so the decision to partner with them to continue our growth in the Southeast was an easy one.”
Del Taco’s unique QSR+ positioning within the Mexican quick-service segment presents great growth potential for experienced multi-unit operators and private equity firms looking to diversify portfolios. With development areas open across the U.S., Del Taco is continuing to seek multi-unit operators who are looking for the opportunity to claim a territory and grow alongside the company, particularly in the Carolinas, Florida, Georgia and more.
To learn more about Del Taco’s franchise opportunity, visit www.deltacofranchise.com.
*By number of units.
About Del Taco Restaurants, Inc.
Del Taco (NASDAQ: TACO) offers a unique variety of both Mexican and American favorites such as burritos and fries, prepared fresh in every restaurant's working kitchen with the value and convenience of a drive-thru. Del Taco's menu items taste better because they are made with quality ingredients like freshly grilled chicken and carne asada steak, fresh house-made guacamole, freshly grated cheddar cheese, slow-cooked beans made from scratch, and signature creamy Queso Blanco.
Founded in 1964, today Del Taco serves more than three million guests each week at its approximately 600 restaurants across 16 states. Del Taco’s commitment to providing guests with the best quality and value for their money originates from cooking, chopping, shredding and grilling menu items from scratch. For more information, visit www.deltaco.com.
Media Contact
Tara Woodall
Allison + Partners
deltaco@allisonpr.com
619-342-9386
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1e36f14c-1c88-4347-b880-eaa86d1b7d6c
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