Fiesta Group Sells Pollo Tropical: Dallas-based Fiesta Restaurant Group is about to sell its famous Pollo Tropical brand. This might revolutionize food production and sales. The Wall Street Journal reported on the arrangement from reliable sources. It’s worth $225 million.
Authentic Restaurant Brands, which bought Pollo Tropical in this food sector, wants to incorporate the fast-casual brand into its growing portfolio. Authentic Restaurant Brands features great NYC restaurants. Primanti Bros., P.J. Whelihan’s, and Mambo Seafood are popular. By Monday, the corporate world will hear about this huge agreement, changing the food sector.
Most of Fiesta Restaurant Group’s 137 Pollo Tropical establishments are in Florida. The organization presently manages 30 franchised firms throughout the US, Puerto Rico, Panama, Guyana, and the Bahamas. These tropical-themed restaurants averaged $2.8 million in revenue last year. Restaurants’ extensive official papers showed this.
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Fiesta Restaurant Group earned $387.4 million in 2022, up 8%. The company’s finances improved significantly. The corporation lost $14.6 million despite earning more. The corporation noticed this economic issue in its three-month financial reports. A fast-changing food market makes it hard to decide what to do.
Fiesta Restaurant Group wisely mitigated the financial effect of rising salary and supplier expenses. Last year, the company raised menu pricing by 5% in March, 1.4% in June, and 4% in September. Menu prices rose 5% in March. The restaurant was nevertheless committed to solving its financial issues.
Fiesta Restaurant Group owned Taco Cabana. Taco Cabana evolved. The company sold Taco Cabana for $85 million in 2021. California’s YTC Enterprises bought well.
The sale of Pollo Tropical and Fiesta Restaurant Group’s strategic initiatives looks like a beautiful narrative about how savvy business choices and inventive cuisine are improving food in the ever-changing food market.
Our Reader’s Queries
Who bought out Pollo Tropical?
On Monday, Authentic Restaurant Brands announced that it has successfully acquired Fiesta Restaurant Group, the parent company of Pollo Tropical chain, for $225 million. This move has taken the company private, with each share being valued at $8.50.
What does Fiesta Restaurant Group own?
Fiesta Restaurant Group, Inc. is the proud owner, operator, and franchisor of the Pollo Tropical restaurant brand. This brand is all about fast casual/quick service dining that delivers one-of-a-kind flavors that are sure to please everyone. And the best part? You get all of this at an unbeatable value.
Who are the original owners of Pollo Tropical?
Meet Harris ’81, the mastermind behind Pollo Tropical – the beloved Miami-based restaurant chain that’s famous for its mouth-watering marinated chicken and Latin-inspired cuisine. Along with his brother Stuart Harris, he founded the company back in 1988 and served as its CEO until recently. Thanks to Harris’ vision and leadership, Pollo Tropical has become a household name in the region, delighting customers with its unique flavors and exceptional service.
Why is Pollo Tropical only in Florida?
Despite being on the market for two years, Pollo Tropical struggled to find a buyer due to concerns that the chicken chain would not succeed outside of Florida. Private equity and strategic buyers were hesitant to invest in the brand, ultimately leading to a delayed sale.