Pryor Cashman represented its longtime client, Los Tacos No. 1, in connection with a strategic investment by TSG Consumer Partners, a leading private equity firm focused on consumer brands.

Founded in 2013 with a single stand in New York City's Chelsea Market, Los Tacos No. 1 has grown into one of New York's best-known restaurant brands, with locations throughout Manhattan, as well as its sister seafood concept, Los Mariscos. TSG has partnered with a number of prominent consumer and restaurant brands, including Dutch Bros and Yard House.

Pryor Cashman has represented Los Tacos No. 1 since the company opened its first location in Chelsea Market in 2013. The firm advised the company throughout its expansion across New York City and continued to serve as counsel during this transaction. The firm handled numerous aspects of the deal, including the change-of-control analysis and landlord notice and consent process across the company’s real estate portfolio; the negotiation of rights to the artwork used throughout Los Tacos No. 1’s restaurants and brand; trademark diligence and other intellectual property matters; real estate and intellectual property disclosure schedules; real estate provisions of the purchase agreement; and employment and bonus agreements for the company’s founders and executives.

The Pryor Cashman team was led by Partner Eric Sherman and included Partners Andrea R. Gendel, Teresa Lee, Eli B. Nathanson, Shane J. Stroud, and Philippe Zylberg, as well as Associate Michael R. Kumar.