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Grupo Carolo, the Mexican restaurant operator that owns the La Popular chain, among others, has received a $30 million investment from the Mexican private equity fund Kans Capital. This strategic partnership will accelerate the expansion of Grupo Carolo, particularly in the United States.
Grupo Carolo owns and operates over 60 restaurants in the United States and Mexico, with sales of $200 million. The company plans to open 40 new restaurants in the next five years, aiming to reach 100 restaurants by 2029.
Kans Capital's investment will enable Grupo Carolo to expand its presence in the regions where it already operates and enter new markets. Currently, the company offers a diverse culinary portfolio that includes the innovative American cuisine of Eureka!, the authentic Mexican flavors of La Popular, and the Mediterranean-inspired high-end dishes of Amalfi Llama.
"We are very excited to partner with Kans Capital to embark on this exciting growth journey," said Eduardo Gomez, CEO of Grupo Carolo. "This investment will allow us to bring the vibrant flavors and unique dining experiences of Eureka!, La Popular, and Amalfi Llama to a broader audience. We are committed to doubling our footprint within the next five years."
"We are delighted to partner with Grupo Carolo and support their expansion plans," said Adriana Sandoval, Managing Partner of Kans Capital. "Our investment reflects our confidence in their vision and the exceptional quality of their restaurant brands. We are confident that together we will achieve remarkable growth and success in the US market."
Click here to read a previous article about Grupo Carolo’s expansion in the United States.
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