Fiesta Restaurant Group, Inc., through its subsidiaries, owns, operates, and franchises fast-casual restaurants. It operates its fast-casual restaurants under the Pollo Tropical and Taco Cabana brands. The company's Pollo Tropical restaurants offer fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand. As of January 3, 2021, it operated 138 company owned Pollo Tropical restaurants in Florida; 143 company owned Taco Cabana restaurants in Texas; and franchised 29 Pollo Tropical restaurants in the Puerto Rico, Panama, Guyana, Bahamas, Ecuador, and Florida, as well as franchised Taco Cabana restaurants six in New Mexico. Fiesta Restaurant Group, Inc. was incorporated in 2011 and is based in Dallas, Texas.
IPO Year:
Exchange: NASDAQ
Website: frgi.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/12/2021 | $17.00 → $15.00 | Outperform | Raymond James |
| 8/13/2021 | $18.00 → $17.00 | Outperform | Raymond James |
Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® brand, today announced that the Board of Directors has appointed Dirk Montgomery as its permanent President and Chief Executive Officer, effective April 13, 2023. Mr. Montgomery has served as Interim Chief Executive Officer since December 8, 2022 and previously served as Chief Financial Officer since September 9, 2019. "The Board and I are confident that Dirk is ideally suited to serve as our President and CEO," said Stacey Rauch, who chairs the Company's Board of Directors. "We believe that his deep knowledge of the Pollo Tropical brand and its operations from having served as o
Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® brand, today announced that Richard "Rich" Stockinger has stepped down from his role as the Company's Chief Executive Officer and President to pursue other interests, effective immediately. Dirk Montgomery, Fiesta's Chief Financial Officer since 2019, will serve as interim CEO while the Company searches for a permanent chief executive. "We thank Rich for his nearly six years of service with Fiesta," said Stacey Rauch, who chairs the Company's board. "He built a superb senior team and skillfully led the Company through an era of difficult challenges. We wish him the best." Richard
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8-K - Fiesta Restaurant Group, Inc. (0001534992) (Filer)
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Comvest Credit Partners ("Comvest"), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent and is the Sole Lender on a $115 million senior secured credit facility (the "Financing") for Pollo Tropical (the "Company"), a Miami-based fast-casual restaurant chain. The Financing supported the take-private acquisition of Fiesta Restaurant Group, Inc. (NASDAQ:FRGI), the publicly traded parent company of Pollo Tropical, by Authentic Restaurant Brands, a portfolio company of Garnett Station Partners ("Garnett Station"). The financing also provides committed capital to support the ongoing operations of th
Authentic Restaurant Brands ("ARB"), a portfolio company of Garnett Station Partners, LLC ("Garnett Station" or "GSP"), a New York-based principal investment firm, today announced the completion of its previously announced acquisition of Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand. "Our distinct vision for Pollo Tropical is to amplify the fundamental aspects of the brand that customers love and expand its capabilities to deliver high-quality, affordable food in a casual setting," said Alex Macedo, Chairman of Authentic Restaurant Brands. "ARB's extensive knowledge of regional restaurant markets and experti
Acquisition by Authentic Restaurant Brands Expected to Close in the Fourth Quarter of 2023 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, today announced the expiration of the 30-day "go-shop" period under the terms of the previously announced merger agreement pursuant to which Authentic Restaurant Brands ("ARB"), a portfolio company of Garnett Station Partners, LLC ("Garnett Station" or "GSP"), will acquire Fiesta in an all-cash transaction. The "go-shop" period expired at 12:01 a.m. Eastern Time on September 5, 2023. Pursuant to the merger agreement, Fiesta's Board of Directors, with the assistance of it
NEW YORK, Aug. 12, 2023 (GLOBE NEWSWIRE) -- Veritiv Corporation (NYSE:VRTV) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with the sale of VRTV to an affiliate of Clayton, Dubilier & Rice, LCC for $170.00 per share in cash for each share of VRTV common stock owned. If you are a VRTV investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected]. Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary dutie
Second Quarter 2023 Comparable Restaurant Sales Growth of 9.6% vs. Second Quarter 2022 Second Quarter 2023 Positive Comparable Transaction Growth of 3.6% vs. Second Quarter 2022 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, today reported results for the 13-week second quarter, which ended on July 2, 2023 and provided a business update related to current operations. As announced separately today, the Company has entered into a definitive agreement to be acquired by affiliates of Garnett Station Partners for $8.50 per share in cash. Please see our press release and 8-K filed today for additional details.
Fiesta Stockholders to Receive Significant, Immediate and Certain Value of $8.50 per Share in Cash Fiesta's Pollo Tropical Restaurants to Join Garnett Station's Authentic Restaurant Brands Platform Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, and Authentic Restaurant Brands ("ARB"), a portfolio company of Garnett Station Partners, LLC ("Garnett Station" or "GSP"), a New York-based principal investment firm, today announced that they have entered into a definitive agreement under which a wholly owned subsidiary of ARB will acquire the Company in an all cash transaction. ARB is a holding company with a p
First Quarter 2023 Comparable Restaurant Sales Growth of 9.7% vs. First Quarter 2022 First Quarter 2023 Positive Comparable Transaction Growth of 1.0% vs. First Quarter 2022 April 2023 Positive Comparable Transaction Growth of 1.1% vs. April 2022 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, today reported results for the 13-week first quarter, which ended on April 2, 2023, and provided a business update related to current operations. Fiesta President and Chief Executive Officer Dirk Montgomery said, "Our focus on building traffic is gaining momentum, as we generated first quarter year-over-year compa
Participation at the EF Hutton Global Conference on May 11, 2023 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® fast-casual restaurant brand, today announced that it will host a conference call to review first quarter 2023 results on Wednesday, May 10, 2023 at 4:30 P.M. ET. A press release containing first quarter 2023 results will be issued after market close that same day. The conference call can be accessed live over the phone by dialing 412-542-4158 which will be answered by an operator or by clicking Call me™: Link. The passcode is 4172178. The conference call should be accessed at least 10 minutes prior to its schedul
Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® brand, today announced that the Board of Directors has appointed Dirk Montgomery as its permanent President and Chief Executive Officer, effective April 13, 2023. Mr. Montgomery has served as Interim Chief Executive Officer since December 8, 2022 and previously served as Chief Financial Officer since September 9, 2019. "The Board and I are confident that Dirk is ideally suited to serve as our President and CEO," said Stacey Rauch, who chairs the Company's Board of Directors. "We believe that his deep knowledge of the Pollo Tropical brand and its operations from having served as o
Fourth Quarter 2022 Comparable Restaurant Sales Growth of 11.0% vs. Fourth Quarter 2021 January 2023 Comparable Restaurant Sales Growth of 10.2% and Positive Comparable Transaction Growth vs. January 2022 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, today reported results for the 13-week fourth quarter, which ended on January 1, 2023, and provided a business update related to current operations. Fiesta Interim Chief Executive Officer Dirk Montgomery said, "During the fourth quarter, we continued the double-digit comparable restaurant sales momentum from the third quarter with improved margins while contin
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Raymond James reiterated coverage of Fiesta Restaurant Gr with a rating of Outperform and set a new price target of $15.00 from $17.00 previously
Raymond James reiterated coverage of Fiesta Restaurant Gr with a rating of Outperform and set a new price target of $17.00 from $18.00 previously
Stephens initiated coverage of Fiesta Restaurant with a rating of Overweight and set a new price target of $17.00
Raymond James reiterated coverage of Fiesta Restaurant Gr with a rating of Outperform and set a new price target of $18.00 from $14.00 previously
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Fiesta Stockholders to Receive Significant, Immediate and Certain Value of $8.50 per Share in Cash Fiesta's Pollo Tropical Restaurants to Join Garnett Station's Authentic Restaurant Brands Platform Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, and Authentic Restaurant Brands ("ARB"), a portfolio company of Garnett Station Partners, LLC ("Garnett Station" or "GSP"), a New York-based principal investment firm, today announced that they have entered into a definitive agreement under which a wholly owned subsidiary of ARB will acquire the Company in an all cash transaction. ARB is a holding company with a p
First Quarter 2023 Comparable Restaurant Sales Growth of 9.7% vs. First Quarter 2022 First Quarter 2023 Positive Comparable Transaction Growth of 1.0% vs. First Quarter 2022 April 2023 Positive Comparable Transaction Growth of 1.1% vs. April 2022 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, today reported results for the 13-week first quarter, which ended on April 2, 2023, and provided a business update related to current operations. Fiesta President and Chief Executive Officer Dirk Montgomery said, "Our focus on building traffic is gaining momentum, as we generated first quarter year-over-year compa
Participation at the EF Hutton Global Conference on May 11, 2023 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® fast-casual restaurant brand, today announced that it will host a conference call to review first quarter 2023 results on Wednesday, May 10, 2023 at 4:30 P.M. ET. A press release containing first quarter 2023 results will be issued after market close that same day. The conference call can be accessed live over the phone by dialing 412-542-4158 which will be answered by an operator or by clicking Call me™: Link. The passcode is 4172178. The conference call should be accessed at least 10 minutes prior to its schedul
Fourth Quarter 2022 Comparable Restaurant Sales Growth of 11.0% vs. Fourth Quarter 2021 January 2023 Comparable Restaurant Sales Growth of 10.2% and Positive Comparable Transaction Growth vs. January 2022 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, today reported results for the 13-week fourth quarter, which ended on January 1, 2023, and provided a business update related to current operations. Fiesta Interim Chief Executive Officer Dirk Montgomery said, "During the fourth quarter, we continued the double-digit comparable restaurant sales momentum from the third quarter with improved margins while contin
Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® fast-casual restaurant brand, today announced that it will host a conference call to review fourth quarter and full year 2022 results on Thursday, March 2, 2023 at 4:30 P.M. ET. A press release containing fourth quarter and full year 2022 results will be issued after market close that same day. The conference call can be accessed live over the phone by dialing 412-542-4158 which will be answered by an operator or by clicking Call me™: Link. The is passcode is 6459939. The conference call should be accessed at least 10 minutes prior to its scheduled start. A replay will be availab
Third Quarter 2022 Comparable Restaurant Sales Growth of 9.3% vs. Third Quarter of 2021 Hurricane Ian Negatively Impacted Third Quarter Comparable Restaurant Sales by Approximately 2.6% October 2022 Comparable Restaurant Sales Growth Accelerated to 12.9% vs. October of 2021 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, today reported results for the 13-week third quarter, which ended on October 2, 2022, and provided a business update related to current operations. Fiesta President and Chief Executive Officer Richard Stockinger said, "The third quarter of 2022 was a positive quarter for the business, with
Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® fast-casual restaurant brand, today announced that it will host a conference call to review third quarter 2022 results on Thursday, November 10, 2022 at 4:30 P.M. ET. A press release containing third quarter 2022 results will be issued after market close that same day. The conference call can be accessed live over the phone by dialing 412-542-4158. A replay will be available after the call until Thursday, November 17, 2022 and can be accessed by dialing 412-317-6671. The passcode is 10171856. The conference call will also be webcast live and archived on the corporate website at ww
Second Quarter 2022 Comparable Restaurant Sales Growth Accelerated above First Quarter 2022 to 8.4% vs. 2021 June and July 2022 Comparable Restaurant Sales at or above 10.0% vs. 2021 Four Consecutive Quarters of Comparable Restaurant Sales Growth above 2019 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, today reported results for the 13-week second quarter, which ended on July 3, 2022, and provided a business update related to current operations. Fiesta President and Chief Executive Officer Richard Stockinger said, "We are very encouraged by our sequential sales growth throughout the second quarter that co
Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® fast-casual restaurant brand, today announced that it will host a conference call to review second quarter 2022 results on Thursday, August 11, 2022 at 4:30 P.M. ET. A press release containing second quarter 2022 results will be issued after market close that same day. The conference call can be accessed live over the phone by dialing 631-891-4304. A replay will be available after the call until Thursday, August 18, 2022 and can be accessed by dialing 412-317-6671. The passcode is 10019749. The conference call will also be webcast live and archived on the corporate website at www.
First Quarter 2022 Comparable Restaurant Sales Growth of 8.0% Compared to First Quarter 2021 Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), parent company of the Pollo Tropical® restaurant brand, today reported results for the 13-week first quarter, which ended on April 3, 2022, and provided a business update related to current operations. Fiesta President and Chief Executive Officer Richard Stockinger said, "We continued to make good progress in our business in the first quarter with revenues continuing to show positive upward trends, and margins showing sequential improvement from the fourth quarter of 2021 to the first quarter of 2022, with the margin run rate