Another Mexican restaurant chain has been snapped up, this time by Sun Holdings acquiring Austin, Texas-based Freebirds World Burrito.
Sun Holdings, headquartered in Dallas, purchased the fast-casual chain for an undisclosed sum. Freebirds has 64 locations across Texas, expanding Sun Holdings' presence in the Lone Star State.
Sun Holdings manages a portfolio of over 1,500 restaurants and retail locations. It provides management services to the franchise ownership teams of over a thousand Applebee’s Neighborhood Bar + Grill, Arby's, Burger King, Golden Corral, IHOP, McAlister’s Deli, Papa John’s, Popeye’s, and Taco Bueno locations in 27 States, according to its website.
The deal marks the second recently announced acquisition of a Mexican restaurant chain. The parent of Olive Garden, Darden Restaurants, said last month it had an agreement to purchase Chuy's Holdings, a chain with 101 eateries, for $605 million, CoStar News reported.
Freebirds is known for its customizable burritos, meats grilled in-house and "Texas-sized portions," according to Sun Holdings.
"Freebirds brings a distinct and vibrant energy to our portfolio," Sun Holdings CEO Guillermo Perales said in a statement. "We believe we can learn from Freebirds in customer engagement and menu innovation, while bringing our expertise in operations and growth. This acquisition is especially notable for Sun Holdings as it demonstrates our ability to grow not just as a franchisee, but as a brand owner. Freebirds is poised for growth."