WALL TOWNSHIP – Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced last week that it has acquired Bubbakoo’s Burritos, a Wall Township-based franchisor of fast-casual Mexican-fusion restaurants.
Terms of the transaction were not disclosed, according to a TSCP press release and Bubbakoo’s founder Paul Altero.
Founded in 2008 by Bill Hart and Paul Altero, who previously worked together at Johnny Rockets for 10 years, Bubbakoo’s offers made-to-order Mexican-inspired fare.
Bubbakoo’s began franchising in 2015. The brand has since expanded to more than 130 locations across 15 states, primarily along the East Coast and Midwest, according to the release.
Altero spoke to The Coast Star this week, saying the deal was made in hopes of taking Bubbakoo’s to new heights.
“We wanted a group that could take it to the next level at the end of the day, and these guys have that type of expertise,” Altero said. “Me and my partner got it to the level we did, and we were approached by a private equity firm. It was the right deal at the right time, and too good to pass up. We’ve got full confidence that this company can take it to the next level.”
Altero has resided in Naples, Florida for the past four years, but told The Coast Star he is relocating back to Point Pleasant by fall of 2025 to launch “new and exciting” ventures in the Ocean County area.
Bubbakoo’s began at the Jersey Shore, with its first restaurant opening in Point Pleasant.
Local Bubbakoo’s locations include the original restaurant of Point Pleasant, Wall Township, Belmar, Neptune City, Brick Township, Tinton Falls, Howell Township, Toms River and West Long Branch.
Bubbakoo’s routinely hosts fundraisers for local schools and organizations, in which a portion of sales on specific dates are donated to their respective causes, according to bubbakoos.com.
In the TSCP press release, Hart said, “From our earliest days in New Jersey to now having more than 130 locations across the country, we’ve been incredibly proud to see our vision resonate with guests, franchisees, and communities,” said Hart, in the press release. “Our growth has always been grounded in our commitment to food quality, hospitality and a culture that values individuality and innovation.”
“Thompson Street Capital Partners brings deep experience in scaling founder-led businesses and shares our passion for supporting franchisees and delivering great experiences to customers,” Altero added in the press release. “With their support, we’re confident Bubbakoo’s can accelerate its growth into new markets, invest in technology and infrastructure, and continue building a world-class franchise system.”
“Bubbakoo’s has created an innovative and compelling brand that resonates with a broad and growing customer base,” said Bob Dunn, managing partner at TSCP. “Bill and Paul have built something special—an exciting concept with strong franchisee relationships, consistent unit growth, and a passionate following. We are thrilled to partner with the team as they enter this next phase of expansion.”
“We see tremendous opportunity to support Bubbakoo’s continued growth by investing in technology, brand development, infrastructure, and franchisee support systems,” said Joe St. Geme, managing director at TSCP. “The company has built a strong foundation, and our team is eager to help accelerate growth while maintaining the culture and values that have made Bubbakoo’s a success.”
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