Leonard Green & Partners completed the acquisition of a majority stake in Velvet Taco from L Catterton and FB Society.

Leonard Green & Partners, an American private equity investment firm, completed the acquisition of a majority stake in Velvet Taco, an operator of a chain of tacos restaurants, from L Catterton, a consumer-focused private equity firm, and FB Society, an operator of restaurant businesses. L Catterton and FB Society retained minority ownership stakes in the business. Financial terms were not disclosed. "Since we began our partnership with L Catterton, we have continued to raise the bar higher and elevate the one-of-a-kind experience that our guests have come to expect when they choose to dine with Velvet Taco. L Catterton has been a tremendous partner through this chapter of our growth, and we are excited to have them remain a part of the Velvet Taco family going forward. In addition, we are thrilled to welcome LGP as a new partner as we embark on this next phase of Velvet Taco's national expansion," Clay Dover, Velvet Taco President and CEO.