Border Foods

Border Foods was organized in 1996 by Sentinel in partnership with the franchisee of 10 Taco Bells in Minnesota. The new company acquired 65 restaurants from Taco Bell Corporation, then a Pepsico subsidiary. Backed by Sentinel, Border Foods was transformed from a regional group of stores tightly integrated into Taco Bell into a standalone business with its own management and corporate infrastructure. Border Foods also had exclusive rights to develop the Taco Bell brand in Minnesota.

By the end of our investment period, Border Foods owned, operated, and franchised 170 Taco Bell, Pizza Hut, and KFC restaurants, and its sales and profitability had grown substantially. In 1999, Sentinel sold its interest in Border Foods to management in a recapitalization transaction.