(Austonia staff)

Austin-based Torchy's Tacos announced on Friday a new fundraising round and plans to double its store count by 2024.


The deal includes additions to the company's ownership group, according to a press release.

Global Atlantic, a private equity firm that first invested in Torchy's in 2017 and is the majority shareholder, is now joined by D1 Capital Partners, T. Rowe Price, Lone Pine Capital and XN. Torchy's founder Michael Rypka and members of the company's original ownership group have reinvested as individuals.

Bloomberg reported that the deal is worth about $400 million.

"Pairing these four firms with our existing partner General Atlantic, we feel that we have assembled a premier ownership group that will allow us to accelerate our growth and write the next chapter in Torchy's history," Torchy's CEO G.J. Hart said in a statement.

Torchy's also plans to expand to 10 additional states over the next four years.

"We admire the management team's deep operational experience and commitment to providing an original and differentiated experience," Torchy's Chairman and General Atlantic's Global Head of Consumer Andrew Crawford said in a statement. "We believe their vision will continue to resonate across a wide-ranging demographic of guests, geographies and footprints as Torchy's expands across the United States."

Rypka, a former corporate chef, founded Torchy's Tacos out of a food truck on South First Street in 2006. Today, the chain has 83 locations across seven states: Arkansa, Colorado, Kansas, Louisiana, Missouri, Oklahoma and Texas.

This year alone, Torchy's opened 12 new locations, including one in Round Rock, and expanded to three additional states.

The company is known for its "damn good tacos," such as the Trailer Park (fried chicken and green chiles with the option to made it "trashy" with the addition of queso) and the Brushfire (jerk chicken and grilled jalapenos with mango and sour cream).

The challenge for all of us this Thanksgiving is letting go of what we've lost in this tough year and treasure what we still have.

We at Austonia are thankful for you. Since we launched our site in April, we've done our best to connect you to Austin, with stories ranging from the important to the delightfully superficial. Your response has been strong and we are grateful.

At this time of thanks, we have a variety of stories for you. Laura Figi writes about "a greener holiday," food trends, and Friday shopping. Emma Freer writes about a nearby annual Native American heritage celebration. And Roberto Ontiveros brings us a thoughtful piece that looks at the human toll of Austin's gentrification—the often painful flip side to having shiny new bars, restaurants, and apartments—in this case it's displacement of the Black community on East 11th Street. Finally, we ask you how you're celebrating the holiday this year.

Our best to you and your loved ones!

—The Austonia Team

You can now buy earrings designed by UT students at Kendra Scott

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