Private equity firm Z Capital Partners has acquired an equity stake of a non-strategic minority holder and increased its equity ownership of Real Mex Restaurants.
As a result of this transaction, Z Capital is now the largest shareholder of Real Mex.
Concurrent with this transaction, the company announced that James J Zenni, founder, president and chief executive officer of Z Capital, has been named chairman of the Real Mex board of directors.
"We are thrilled to become the largest shareholder of Real Mex," says Zenni. "Since Charly Robinson was appointed as CEO, Real Mex has improved operations and efficiencies and the management team is laser focused on the current turnaround strategy to drive profitability and enhance customer relationships. We remain dedicated to supporting Real Mex and are confident that, with Charly and his talented management team, the company is positioned for future growth and success."
"This is an exciting transaction for all of us at Real Mex," says Charly Robinson, president and chief executive of Real Mex. "Z Capital has been a dedicated partner since their initial investment in the company and is deeply committed to the company's vision to revitalise the Real Mex brands. With the support of a seasoned financial sponsor we are continuing to develop our brands and expand into new markets."