Golden Pride partners with Santa Fe firm, laying the foundation for potential expansion

Golden Pride’s long history of providing fast service of its breakfast burritos, fried chicken, barbecue and New Mexican cuisine in Albuquerque has made it a well-known staple for the city.

Now, more parts of the state could welcome Golden Pride’s comfort food as the restaurant chain prepares to expand with help from City Different Investments, a Santa Fe investment management firm.

Officials with City Different Investments and Golden Pride announced the partnership in a news release shared with the Journal on Tuesday, saying the goal is “to preserve the values, culture and quality that have defined Golden Pride for more than 50 years while laying the foundation for long-term growth.”

The partnership encompasses an investment from City Different Investments, though it is unclear if the firm is investing money.

Joel Van Essen, the firm’s director of private investments, declined to share whether the firm is taking an ownership stake in Golden Pride as part of the partnership. But the alliance could mean an expansion beyond Albuquerque for Golden Pride, potentially bringing the restaurant chain to more cities throughout the Land of Enchantment, a news release said.

Van Essen said the two groups believe they can grow the brand “to bring easier access to Golden Pride food to Albuquerque residents and surrounding communities in New Mexico alike.”

The partnership has no implications for Frontier, Golden Pride’s sister restaurant, according to Van Essen. He said this investment and partnership is specifically with Golden Pride. The Rainoseks, the family that owns Golden Pride and Frontier, will continue to own and operate Frontier.

The Rainoseks founded Golden Pride in 1972. The chain has since grown to four locations in Albuquerque and has remained family run for more than 50 years.

Golden Pride CEO Shannon Rainosek — the daughter of the restaurant chain’s founders, Larry and Dorothy Rainosek — said the family has “long believed in the growth potential of Golden Pride” and that City Different Investments holds that same belief.

“We’ve spent the past five decades building Golden Pride into something our family and our community can be proud of,” Rainosek said in a statement. “City Different shares our passion for food, people and this state.”

City Different Investments, launched in 2021, invests and partners with small- and medium-sized businesses in New Mexico and surrounding states, Van Essen said. He added the firm partners with “iconic” brands that already have “exceptional” management teams in place to preserve their legacies.

“There is no more iconic brand in the New Mexico food scene than Golden Pride,” Van Essen said in an interview. Van Essen grew up in Santa Fe and said he has fond memories of stopping by Golden Pride for a breakfast burrito — still his favorite today — after basketball tournaments on the way home.

Van Essen said Golden Pride will retain all its employees through the partnership, which became official on May 20.

The Rainosek family will stay involved in the business and “drive the operational excellence for which Golden Pride is highly regarded,” Van Essen said. City Different’s role in the business will include offering financial resources and strategic insight, he added.

“This partnership is about honoring what makes Golden Pride special and supporting the family as they continue to stay involved with the business,” Van Essen said in a statement. “We’re excited to be part of its next chapter.”