The Pollo Tropical restaurant chain is nearing a deal to be bought by an investment firm for $225M, The Wall Street Journal’s Lauren Thomas reports. Authentic Restaurant Brands, part of New York-based Garnett Station Partners, plans to add the fast-casual restaurant operator to a portfolio that already includes sandwich chain Primanti Bros., according to people familiar with the matter. The deal for Pollo Tropical parent Fiesta Restaurant Group is worth $8.50 per share, the author notes. The deal is expected to be made official by Monday.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FRGI:
- Pollo Tropical Owner Fiesta (NASDAQ:FRGI) Gears Up for $225M Sale
- Fiesta Restaurant Group (FRGI) Q2 Earnings Cheat Sheet
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue