Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, announced it has completed a preferred equity investment in KBP Foods (KBP). VPC invested alongside management, Boathouse Capital, and others to support the management buyout of KBP as well as future growth initiatives.
KBP operates approximately 220 restaurants under the KFC, Taco Bell, and Long John Silver’s brands throughout the Midwest, South, and Southeast. Through a series of acquisitions, KBP management has grown the business from just five restaurants in 1999, and has consistently demonstrated brand-leading financial and operational performance. The current management team will continue to execute on KBP’s strategy of acquiring and improving operations of franchised restaurants.
“VPC is excited to partner with and invest alongside KBP’s best-in-class management team,” said VPC Principal Chad Peterson. “KBP is uniquely positioned to continue capitalizing on consolidation opportunities and we look forward to participating in the next stage of growth and value creation.”
Barry Dubin of KBP remarked, “We are thrilled to partner with VPC and Boathouse as we embark upon our next phase of growth. Our new financing partners exhibited a high degree of flexibility and sophistication in navigating a complex and highly structured transaction. With our new capitalization, we are well positioned to take advantage of the opportunities before us.”
KBP owns and operates branded restaurants under franchise agreements with KFC, Taco Bell, and Long John Silver’s. The company is the second largest domestic KFC franchisee and among the top 25 largest restaurant franchisees of any brand in the United States. The company has successfully acquired and operates restaurants in Florida, Georgia, Illinois, Iowa, Kansas, Missouri, Nebraska, North Carolina, Texas, and Virginia. KBP is headquartered in Overland Park, Kansas. F
Victory Park Capital (VPC) is a privately held registered investment advisor dedicated to alternative investing through the management of its investment funds. As specialists in credit and private equity investments, VPC focuses on middle market companies across a diversified range of industries.