El Pollo Loco Chain Plans to Open 100 New Restaurants
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In its first expansion announcement under a new owner, El Pollo Loco unveiled plans Monday to open 100 new restaurants over the next five years at a total cost of about $130 million.
The Irvine chain was sold in December by Advantica Restaurant Group to a New York investment group, American Securities Capital Partners L.P..
The new stores will open mostly in Southern California, El Pollo’s core market, and in areas that the company considers its emerging markets--Northern California, Texas, Nevada and Arizona.
About half the new stores will be franchised and the other half will be company-owned. The privately held chain has 120 company restaurants and 150 franchised outlets.
El Pollo Loco said it recently began a campaign to identify restaurateurs who are experienced at running several units to become franchisees and drive the company’s future growth.
El Pollo’s sales were $291 million for the 12 months ended June 28, up 12.4% over the previous 12 months, the company said.
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