Fiesta Restaurant Group (FRGI), the parent company of Pollo Tropical restaurant brand, has reached a definitive agreement to be acquired by Authentic Restaurant Brands (ARB), a portfolio company of PE firm Garnett Station Partners. ARB is a holding company with a portfolio of food & beverage brands including P.J. Whelihan’s, Primanti Bros. and Mambo Seafood. Quite a diversified… Read More »
Even once a spinoff is announced it’s not a given that it will be completed. Things change – the company can change its mind, a buyer could emerge and so on and so forth. It’s really not surprising to see a bunch of sales in an environment of rich valuations. Although we try our best to stay on… Read More »
Janney analyst Mark Kalikowsky is quite bullish on Taco Bell and recently raised his same store estimates for Taco Bell by four (4) percentage points. More interesting for us here is the fact that Mr. Kalikowsky also reiterated his thoughts that the chain should be spun off from its more globally focused parent, Yum Brands (YUM), which itself… Read More »
Another year has come and gone which means that we have all been inundated with a million ‘Look Back’ and ‘Best Of/Worst Of’ pieces for the past few weeks. I always found this to be an interesting and immensely boring phenomenon as we just lived through it. Should be pretty fresh in our memories. We are nothing but… Read More »
It’s been a scant three months since Fiesta Restaurant Group(FRGI) was spun out of Carroll’s(TAST) but the new company has already produced impressive results in its first reported quarter. The stock, which began trading in May below $13, closed at $16.16 yesterday. Last week, Fiesta reported its results for the second quarter. The company showed strong comparable store… Read More »
It’s party time! Well…almost there as the board of directors of Carrols Restaurant Group (TAST) recently approved the spinoff of the Fiesta Restaurant Group. You may not realize this, but Carrols is the country’s largest Burger King franchisee and post-transaction the parent will retain its Burger King franchise business. The new company, Fiesta, will operate the company’s two… Read More »