Wealth

Abu Dhabi fund Mubadala unit acquires a U.S. franchisee of Taco Bell

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People walk by Taco Bell's first digital-only U.S. cantina location at Times Square in New York City, U.S., April 14, 2021. REUTERS/Shannon Stapleton/File Photo

DUBAI, Oct 14 (Reuters) - A unit owned by Abu Dhabi state fund Mubadala Investment Company has acquired one of the biggest franchisees of Taco Bell Corp in the United States, according to a statement on Thursday.

Mubadala Capital, an asset management subsidiary, bought K-MAC from Lee Equity Partners Opportunity Fund, the unit said in the statement.

K-MAC operates over 300 Taco Bell restaurants, mostly in the midwestern and southern United States, it said.

U.S. investment bank Goldman Sachs (GS.N) advised Mubadala Capital, while Bank of America (BAC.N) and North Point advised the seller.

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Reporting by Hadeel Al Sayegh; editing by Jason Neely

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