Irving's Tex-Mex Chain Uncle Julio's Bought by Private Equity Firm

Queso, tacos and margaritas made by Irving-based restaurant chain Uncle Julio's may soon be served up in more U.S. markets, thanks to an acquisition by a Connecticut-based private equity firm. The private equity firm, L. Catterton, announced Wednesday that it bought the Tex-Mex chain with plans to expand to new and existing markets. It did not disclose the amount or terms of the deal.Uncle Julio's was founded in 1986 in Dallas. Since then, it has expanded to 29 restaurants and seven states, including Texas, Virginia, Maryland, Illinois, Florida, Georgia, and Tennessee. It has eight Texas locations, including six in the Dallas-Fort Worth area.In its birthplace, Uncle Julio's competes with dozens of popular, family-friendly Mexican restaurants. Outside of Texas, however, it's blazing trails in markets where sit-down restaurants that serve guacamole, fajitas and other Mexican fare are harder to come by.Uncle Julio's has been contacted for comment.  Continue reading...