Portfolio Company News: K-Mac and Paper Source
Brentwood Associates has received its first dividend from K-Mac Holdings, reports peHUB. Bill Barnum, managing partner at Brentwood Associates, commented: “K-Mac’s debt, after the dividend, is lower than when Brentwood acquired it.”The article further discusses the success of K-Mac, the largest Taco Bell franchisee in the U.S. “One of the reasons for Taco Bell’s success is its popular Doritos Locos Taco and the new Cantina Bell menu. ‘Doritos Tacos Locos has been fantastic,’ Barnum says. ‘It will stay on the menu and it won’t be an item that comes and goes,’ he says.”
Fortune also reported that Brentwood Associates has completed dividend recaps for two portfolio companies: K-Mac HoldingsCorp. (via excess capacity in an existing $252m credit facility) and Paper Source Inc. (via a new $50m credit facility).