Fiesta Restaurant Group Inc. (FRGI) has agreed to sell Taco Cabana to Yadav Enterprises in California for $85 million. There are 142 Taco Cabana locations in Texas and New Mexico. Yadav Enterprises also owns many of the Jack in the Box restaurants plus Denny’s and TGI Friday’s franchises.
FRGI said it will now focus on bringing Pollo Tropical to more areas, currently most of them are based in Florida. Pollo Tropical is a Caribbean fast food restaurant known for fresh ingredients. Taco Cabana saw $239 million in revenue for 2020.
Richard Stockinger, the CEO of FRGI said in a press release that he is “confident” that Yadav Enterprises will be “effective stewards” of the Taco Cabana brand.