Holy Cow--or I guess it should be holy chicken!! Good luck Pizza Loca!!
Come back when you have 165 million for CHGO-)
Advantica Gets Offer for El Pollo Loco From La Pizza Loca Owner
Bloomberg News
July 16, 1999, 11:21 a.m. PT
Spartanburg, South Carolina, July 16 (Bloomberg) --
Advantica Restaurant Group Inc. received an offer for its fast
food chain El Pollo Loco from the owner of closely held La Pizza
Loca Inc., the Orange County Register reported. The owner, Alex
Meruelo, declined to disclose the offer, though the asking price
for the 268-store Mexican spiced chicken chain is said to be
about $165 million. Buena Park, California-based La Pizza Loca
yesterday ended its effort to acquire control of Chicago Pizza &
Brewery Inc. and agreed to sell its stake in the operator of
pizza restaurants for $2.25 a share.
Advantica, the operator of Denny's, Coco's and Carrows
restaurants, last month hired the investment firm Donaldson,
Lufkin & Jenrette to help sell El Pollo Loco. |
