Cafe Rio Bought by Private-Equity Group

September 11, 2017

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Cafe Rio, a high-growth, fast-casual Mexican restaurant company, announced that it has been acquired by Freeman Spogli & Co. Cafe Rio’s existing management team will continue to lead the company and will retain a meaningful equity stake in the business. The company was purchased from KarpReilly, who invested in the business in 2004.  The terms of the transaction were not disclosed.