Alta Growth Capital announces the acquisition of QSR TH
Mexico City, Mexico, August 15, 2022 – Alta Growth Capital (“AGC”) announced today that they have led the acquisition of 100% of the outstanding shares of QSR TH S.A.P.I de C.V. (“QSR TH”), a well-established quick service restaurant (“QSR”) operator in Mexico with rights to operate the Carl’s Jr brand in the greater Mexico City area. AGC co-invested alongside Eduardo Uribe Mesta, a foodservice executive with over 20 years of experience in the QSR industry in Mexico and Latin America. Mr. Uribe will join the Company as CEO and lead the expansion plan in the coming years.
Headquartered in Mexico City, QSR TH operates 47 Carl’s Jr stores. Carl’s Jr opened its first restaurant in Mexico in 1991, the first franchise outside of the United States. Since then, it has become one of the country’s best-known restaurant chains. As of 2021, CKE (the parent company of Carl’s Jr. and Hardee’s) has over 3,000 restaurants in 40+ countries. Alta will work with QSR TH to continue its expansion plan in Mexico City and create new growth opportunities.
Javier Garcia Teruel Avila, Managing Director of Alta Growth Capital, highlighted, “Carl’s Jr is a top global hamburger QSR brand which has grown consistently in Mexico and Latin America. We believe the opportunity has outstanding potential due to its brand recognition, quality food, strong franchise network, and Alta’s previous experience in the QSR sector.”
Eduardo Uribe, investor and new CEO of QSR TH, added: “This is a further step to continue executing the expansion plan for the Carl’s Jr brand in Mexico City. After being in the QSR sector for 20+ years, I am excited to partner with Alta Growth Capital to achieve the full potential of the Carl’s Jr concept.”
This is AGC’s fifth investment from its third fund.
About QSR TH
QSR TH was part of Taco Holding, one of the leading restaurant operators in Mexico. The Company is one the largest Carl’s Jr operators in Mexico and, as of August 2022, operates 47 Carl’s Jr stores and continues to hold the exclusive rights in its territories to develop the brand for the coming years.