Covington Represents Mubadala on Acquisition of K-MAC Enterprises

Covington Represents Mubadala on Acquisition of K-MAC Enterprises

October 15, 2021

NEW YORK—Covington advised Mubadala Capital, the Abu Dhabi-based asset management subsidiary of Mubadala Investment Company, on its acquisition of K-MAC Enterprises from Lee Equity Partners Opportunities Fund in partnership with the existing management team.

Mubadala Capital has significant experience in the food and beverage space, having invested approximately $1.8 billion over the past seven years in this sector. Recently, Mubadala Capital led a $700 million investment round into REEF Technology, a United States-based proximity-as-a-service platform enabling and accelerating the growth of the North American on-demand economy underpinned by food delivery with a portfolio that includes a number of leading QSR restaurant concepts in the United States.

K-MAC is the second largest Taco Bell franchisee in the United States, operating over 300 Taco Bell restaurants, primarily located in the Midwestern and Southern United States.

The Covington team included Amy Wollensack, Daniel Tavakoli, Peter Schwartz, Kevin Zaragoza, and Valerie Etienne.