SOURCE: Iron Cactus Mexican Grill & Margarita Bar

August 13, 2015 16:42 ET

Cornbread Ventures, a New Entity Formed by Austin, TX-Based Iron Cactus General Partners and The Stone Group, to Acquire Z'Tejas Southwestern Grill

The Agreement Assures Z'Tejas Locations to Remain Open

AUSTIN, TX--(Marketwired - Aug 13, 2015) - The General Partners of The Iron Cactus Mexican Grill & Margarita Bar, Gary Manley and Mike Pottorff, and Michael Stone, Principal at The Stone Group, a commercial real estate investment company, have signed an agreement to acquire Z'Tejas Southwestern Grill. The agreement assures guests and employees that Z'Tejas locations will remain open for years to come.

"We'd like to assure guests and employees that Z'Tejas will continue to remain a staple of the local community," said Gary Manley. "Our team is committed to maintaining the high level of service and offer delicious Southwestern dishes and drinks that guests have come to love at Z'Tejas since 1989."

Manley and Pottorff are the co-founders of several successful ventures in the past twenty years, including The Iron Cactus Mexican Grill & Margarita Bar, which opened its first location in 1996 downtown Austin and continues to be one of the most popular restaurant destinations downtown. Since then, the pair has opened Iron Cactus locations in North Austin, Hill Country Galleria, Downtown Dallas and on the San Antonio Riverwalk.

Stone is principal and founder of The Stone Group, one of Austin's top commercial real estate services and investment company. Since its inception in 2004, The Stone Group has successfully managed and implemented commercial real estate strategies for clients that have yielded positive returns. Its success is due to the team's combined real estate experience and expertise of a national brokerage with the efficiency and personal attention that only a boutique firm can offer.

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