October 18, 2016
Fiesta Restaurant Group, headquartered in Addison, TX, has alerted investors that it is up for sale. Fiesta Restaurant Group owns the Pollo Tropico and Taco Cabana brands. Activist investor JCP Investment Partnership could be leading Fiesta to consider a sale.
The news comes a few weeks after the company opted not to split its two brands into separate public companies. “Considering the persistent challenging market conditions impacting the restaurant industry as a whole, and constructive feedback from investors, we have decided it is in the best interests of all shareholders to maintain ownership of the Taco Cabana brand,” said Jack Smith, chairman of the group’s board of directors.
The company has also stopped its Texas development pipeline of Pollo Tropical restaurants.
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