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Abu Dhabi Fund Mubadala Capital Buys Major Taco Bell Franchisee

  • K-Mac deal underlines growing appetite for food and U.S. deals
  • Mubadala investment arm plans $2.5 billion private equity fund
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Photographer: Scott Eisen/Bloomberg

A unit of Abu Dhabi’s Mubadala Investment Co. acquired one of the largest Taco Bell Corp. franchisees in the U.S., underscoring the $243 billion sovereign wealth fund’s growing appetite for private equity deals.  

Mubadala Capital, the fund’s asset management arm, bought K-Mac Holdings Corp. from Lee Equity Partners Opportunities Fund, according to a statement on Thursday. Financial terms weren’t disclosed. K-Mac operates some 300 fast-food Taco Bell outlets that are primarily located in the country’s Midwest and South.