SAN ANTONIO, Nov. 15, 2012 /PRNewswire/ -- Taco Cabana®, a subsidiary of Fiesta Restaurant Group, Inc.® (NASDAQ: FRGI) recently announced it has sold its two company-owned Albuquerque locations to its local franchisee Mel Sloan. Sloan's company also owns two other locations in Albuquerque.
A Taco Cabana franchisee since 1994, Sloan said he's committed to positioning all of his locations in the new direction the Mexican-inspired, fast casual brand is headed.
"I'm thrilled to be acquiring these two company-owned Taco Cabana locations and to have the opportunity to expand our fan base in Albuquerque," said Sloan. "It's the new direction of the company that has me excited about once again growing with the Taco Cabana system."
The decision to transfer the company-owned restaurants to Sloan was a matter of operational cost, efficiency and business strategy. With the majority of Taco Cabana's 160 locations in Texas, Tim Taft, Fiesta President and CEO, said the company wants to focus its growth and evolution efforts there. Taft added that Sloan already has a proven track record of success with his existing Taco Cabana franchise locations."We are excited to have Mel on board to continue as a franchisee and to have him take over the company-owned Albuquerque locations," said Taft. "Mel's franchise and managerial experience, along with his dedicated staff are the perfect mix for an excellent Taco Cabana dining experience. He and his team will be focused on the continued evolution of the brand in New Mexico. I have total confidence in his abilities to lead his franchise as Taco Cabana continues to grow and expand." Taco Cabana is currently updating all 160 of its existing locations. All updates are scheduled to be complete by early 2014. In July, Taco Cabana debuted its first newly designed restaurant concept in Allen, Texas. For more information, or to locate the nearest Taco Cabana, visit www.tacocabana.com. About Taco Cabana® Taco Cabana® restaurants serve fresh, handmade Mexican food, including sizzling fajitas, quesadillas, hand rolled flautas, enchiladas, burritos, tacos, fresh-made flour tortillas, a selection of "made from scratch" salsas and sauces, frozen margaritas and beer. Most menu items are handmade daily in each restaurant, which feature open display cooking, including fajitas cooking on an open-flame grill and a machine making fresh tortillas. Taco Cabana restaurants feature interior, semi-enclosed and patio dining areas, which provide a vibrant decor and relaxing atmosphere. Additionally, Taco Cabana restaurants provide its guests the option of take-out, as well as theconvenience of drive-thru windows. Taco Cabana operates 160 restaurants as of October 1, 2012. About Fiesta Restaurant Group, Inc.® Fiesta Restaurant Group, Inc.® owns and operates the Pollo Tropical® and Taco Cabana® restaurant brands with 250 company-owned and operated restaurants and 41 franchised restaurants in the U.S., Puerto Rico, the Bahamas, Costa Rica, Ecuador, Honduras, Trinidad and Venezuela. The brands specialize in the operation of fast-casual, ethnic restaurant brands that offer distinct and unique flavors with a broad appeal at a compelling value. Both brands feature made-from-scratch cooking, fresh salsa bars, and drive-thru service and catering. Fiesta common stock is traded on the NASDAQ Global Select Market under the symbol FRGI. For more information about Fiesta Restaurant Group, Inc., visit the company's website at www.frgi.com.
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