Mas Mex — a restaurant group formed by investor CapitalSpring — has big plans for expansion of its Mexican restaurant platform. Private equity firm CapitalSpring bought the Houston, Texas-based Escalante’s Fine Tex Mex & Tequila in June 2023, followed by Fat Rosie’s Taco and Tequila Bar in Chicagoland, Ill. in Oct 2023.
The Mas Mex Group, now headed by CEO John Iannucci (Cheesecake Factory, Logan’s Roadhouse), was formed out of these acquisitions. Iannucci said that he has plans to not only expand both concepts into new markets, but to also acquire other regional casual-dining Mexican chains to add to the portfolio.
“What really drew me to Mas Mex was the founders of each brand,” Iannucci said. “The brands have such great presence and mean so much in the community. These two brands could have easily expanded to all 50 states or grown in different regions, but I just don’t think the founders knew how to scale and get them there.”
Both Escalante’s and Fat Rosie’s have different vibes, history, and potential growth trajectories. Escalante’s currently has seven locations in Texas, and has been serving up the same family recipes for the past 30 years. The brand makes its own tortillas in front of guests and crafts its sauces from scratch. As the brand expands, Iannucci said they will not be cutting corners on quality ingredients. Escalante’s is opening two more stores in Houston in 2026, and will be expanding at a slower pace than its sister restaurant.
Fat Rosie’s just opened its sixth restaurant and is known for its entertaining experience as it is for its authentic Oaxacan food. Iannucci said he is proud of the fact that the average online reviews of each location are around 4.9 stores. Fat Rosie’s is opening its next location in Oak Brook, Ill., on the outskirts of Chicago. Iannucci said that Fat Rosie’s is the “growth vehicle” for the platform right now, with plans to open four to five locations a year.
For both companies, Iannucci sees growth potential in Ohio and Nashville for Fat Rosie’s, while Escalante’s will continue to fill out the Texas restaurant, with a potential foray into Austin.
The goal would also be to pull in more Mexican brands with similar brand synergy to the Mas Mex portfolio.
“The idea is to support these Mexican brands and Tex Mex brands and put them all together under one roof and create this platform to operate them,” Iannucci said.
Besides expansion and acquisition plans, Iannucci said he and his team are also looking to modernize both brands, particularly Escalante’s. He said that a refreshed marketing strategy and new technology investments would go a long way in expanding the customer base.
“You’ve been going [to Escalante’s] since you were a kid, and now you’re bringing your kids,” Iannucci said. “But we want to go out there and reach new guests. That’s a big focus for us in 2025.”
Contact Joanna at [email protected]
