El Pollo Loco jumps after receiving buyout offer from Biglari Capital

In a regulatory filing, representatives of El Pollo Loco (LOCO) Holdings said they received an unsolicited, non-binding indication of interest from Biglari Capital Corp. to acquire all of the company’s issued and outstanding shares of common stock that it does not already own. Consistent with its fiduciary duties, the company’s Board of Directors is in the process of carefully evaluating the proposal in consultation with its independent financial and legal advisors to determine the course of action it believes is in the best interests of the company and its stockholders. In connection with the Board’s evaluation of the proposal, on April 6, 2025, the company and Biglari Capital entered into a confidentiality agreement that contains a customary standstill. The Board has not set a timetable for, nor has it made any decisions related to, any further actions with respect to Biglari Capital’s indication of interest at this time. The company does not intend to provide further comment on Biglari Capital’s indication of interest or on a potential transaction with Biglari Capital or any other party unless and until it determines that additional disclosure is appropriate or necessary. Shares of El Pollo Loco are up 15.3% ahead of the market open.