M&A Deal Summary

Modern Restaurant Concepts Acquires Qdoba Restaurant

On August 9, 2022, Modern Restaurant Concepts acquired restaurant Qdoba Restaurant from Apollo Global Management

Acquisition Highlights
  • This is Modern Restaurant Concepts’ 2nd transaction in the Restaurants sector.
  • This is Modern Restaurant Concepts’ 2nd transaction in the United States.
  • This is Modern Restaurant Concepts’ 2nd transaction in California.

M&A Deal Summary

Date 2022-08-09
Target Qdoba Restaurant
Sector Restaurants
Buyer(s) Modern Restaurant Concepts
Sellers(s) Apollo Global Management
Deal Type Merger
Advisor(s) Deutsche Bank Corporate & Investment Banking
Credit Suisse Investment Banking (Financial)
Morgan Lewis (Legal)

Target

Qdoba Restaurant

San Diego, California, United States
Qdoba Restaurant operates and franchises fast-casual Mexican restaurants under the name Qdoba Mexican Grill. Qdoba Mexican Grill combines fresh ingredients with an innovative combination of sauces and marinades to create non-traditional, fast-casual Mexican fare. Qdoba Restaurant was founded in 1995 and is based in San Diego, California.

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Buyer(S) 1

Buyer

Modern Restaurant Concepts

Denver, Colorado, United States

Category Company
Founded 2009
Sector Restaurants
DESCRIPTION

Modern Restaurant Concepts is a farm-to-table fast casual restaurant company that operates restaurants and Maryland serving healthy, high-quality, sustainably-sourced, scratch-made fare at an attractive price point. Modern Restaurant Concepts is based in Denver, Colorado.


DEAL STATS #
Overall 2 of 2
Sector (Restaurants) 2 of 2
Type (Merger) 2 of 2
State (California) 2 of 2
Country (United States) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-20 Lemonade Restaurant Group

Los Angeles, California, United States

Lemonade Restaurant Group LLC is an operator of 14 fast-casual restaurants in a modern cafeteria setting in Southern California. It offers high-quality, chef-driven menu and a highly-customizable experience. Lemonade Restaurant Group was founded in 2008 and is based in Los Angeles, California.

Buy -

Seller(S) 1

SELLER

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 61 of 67
Sector (Restaurants) 2 of 2
Type (Merger) 8 of 8
State (California) 6 of 8
Country (United States) 46 of 51
Year (2022) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-04 Atlas Air

Purchase, New York, United States

Atlas Air is a provider of aircraft and outsourced solutions to the global airfreight industry. It is the parent company of Atlas Air, Inc. and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate the world’s largest fleet of 747 freighter aircraft and provide customers the broadest array of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations. Atlas Air was founded in 1992 and is based in Purchase, New York.

Buy $5.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-15 GI Alliance

Dallas, Texas, United States

GI Alliance is an independent gastroenterology practice in the US, measured both by provider count and by revenue, operating in Dallas, Fort Worth, Austin, San Antonio, Houston, and several metropolitan markets in Louisiana. GI Alliance was founded in 2018 and is based in Dallas, Texas.

Buy -