who owns qdoba

Qdoba is owned by Modern Restaurant Concepts (MRC), which is a fast-casual restaurant platform under Butterfly Equity. Butterfly Equity is a private equity firm based in Los Angeles specializing in the food sector. The acquisition of Qdoba by Butterfly Equity via MRC occurred in October 2022. At that time, Qdoba had nearly 750 locations across North America. Modern Restaurant Concepts also includes other brands like Modern Market Eatery and Lemonade, and Qdoba operates as part of this platform.