Stamford-based private equity company Olympus Partners has sold K-Mac Holdings Corp. to Brentwood Associates based in Los Angeles.
K-Mac, headquartered in Fort Smith, Ark., is the third largest Taco Bell franchisee in the country, operating 167 Taco Bells mainly in the Southwest. It also owns KFC and Golden Corral restaurants, which together with the Taco Bell stores total 190 outlets.
The details of the transaction were not disclosed, including the amount of the sale.
Olympus acquired K-Mac, then known as K-Mac Enterprises, at the end of 2004. Though the 2004 purchase price was not disclosed, G.E. Commercial Finance said it provided more than $200 million in financing toward the buy.
Since then, the company has opened and acquired 46 restaurants and has expanded geographically in several other states.
Greenwich twins stuck with facebook agreement
A federal appeals court ruled recently that former Harvard University classmates of Facebook founder and Mark Zuckerberg, and Greenwich natives, Tyler and Cameron Winklevoss, cannot undo their 2008 settlement over creation of the social media site.
The pair sought to nullify to agreement in order to pursue a higher amount.
The 9th U.S. Circuit Court of Appeals said the twins were well aware the details of the agreement which called for a $20 million cash payment and a partial ownership of Facebook. Because of the company”™s climbing appraisal, the settlement is now worth more than $160 million.
The Winklevoss brothers said they were deceived into believing Facebook was worth $35.90 a share because of investment by Microsoft, but learned after signing that Facebook valued itself for tax purposes at $8.88 per share.
In January the Goldman Sachs Group invested $450 million in the social networking site, boosting the company’s valuation to $50 billion.
Rizzuto starts caterer
Bill Rizzuto, owner of Rizzuto”™s Restaurant Group, and catering consultant Kim Crosby have begun The Epicurean Caterers.
Rizzuto”™s, which has restaurants in Westport, Bethel and West Hartford, partnered with Crosby originally as a supplementary business to its restaurants and as a way to help the recently built Delamar of Southport, which was still building out its integrated restaurant this past year.
The Epicurean Caterers have now officially launched as a separate venture, marked by its hosting of the Shippan Designer Show House Fundraiser and the Meeting of Professionals International Educational Series.
Danbury Apartment building sold
Hillcroft at Danbury was purchased by investors of Par Hillcroft from the group Fairfield Hillcroft, both of Hartford. The 192-unit apartment complex on Clapboard Ridge Road has been sold to the investors for $27.6Â million. The 10-acre Hillcroft at Danbury comprises eight apartment buildings with units ranging from studios to three-bedrooms.
