We advised Los Tacos No. 1 on the transaction

Davis Polk advised Los Tacos No. 1 on a strategic investment from TSG Consumer. Los Tacos’ founders will continue to lead day-to-day operations and strategic decision-making, with TSG working alongside the existing management team to support the company’s growth. Financial terms of the transaction were not disclosed.

Founded in New York City in 2013 by three friends from Tijuana, Mexico, and Brawley, California, Los Tacos No. 1 began as a single taco stand in Chelsea Market and has grown into one of the city’s most recognized taco concepts. Los Tacos is known for its focused menu of tacos, quesadillas and aguas frescas, built on fresh ingredients, family recipes and house-made tortillas. The company operates 10 locations across New York City, as well as Los Mariscos, its sister seafood concept in Chelsea Market.

Founded in 1986, TSG Consumer is a leading consumer-focused private equity firm with approximately $14 billion in assets under management. TSG partners with exceptional leaders and transformational brands, empowering them to grow and meet the ever-evolving needs of their consumers. TSG has investment offices in San Francisco, New York and London. Its past and current restaurant investments include Dutch Bros Coffee, Yard House and Pura Vida Miami.

The Davis Polk corporate team included partner Leonard Kreynin and associates Yi Bao and Daniel Tublin. Partner Corey M. Goodman and associates Bryce Maxey and Seokwon (Eric) Jang provided tax advice. Partner Amanda Hines Gold and associate Long Shi provided executive compensation advice. Partner Matthew J. Bacal and associate Anne Kim provided intellectual property advice. All members of the Davis Polk team are based in the New York office.

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