October 30, 2023 Authentic Restaurant Brands - ARB Completes Acquisition of Fiesta Restaurant Group
Authentic Restaurant Brands (“ARB”) today announced the completion of its previously announced acquisition of Fiesta Restaurant Group, Inc. (NASDAQ: FRGI), parent company of the Pollo Tropical® Restaurant brand.
Under the terms of the definitive agreement, a wholly owned subsidiary of ARB acquired all of the outstanding shares of Fiesta.
The consideration paid to Fiestacommon stockholders as part of the transaction is $8.50 per share in cash.
Fiesta Restaurant Group, Inc., owns, operates and franchises for the Pollo Tropical Restaurant brand.
The brand specializes in the operation of fast casual/quick service restaurants that offer distinct and unique flavors with broad appeal at a compelling value.
The brands feature fresh-made cooking, drive-thru service, and catering.