CYPRESS Calif. Industry veteran Richard Rivera on Tuesday was named president and chief executive of Real Mex Restaurants Inc., parent to the casual-dining Chevys Fresh Mex, Acapulco and El Torito chains.
The move for Rivera, who is leaving his position as president and chief executive of Sarasota, Fla.-based Rubicon Enterprises LLC, is effective immediately, Real Mex officials said. Rubicon is a restaurant management and investment company with ownership in the franchise operation of four T.G.I. Friday’s locations and six Marlow’s Taverns. The company also has an investment with the fledgling Doc Chey’s Asian Kitchen, based in Atlanta.
Rivera will replace as chief executive Steve Tanner, Real Mex’s chief financial officer, who has been serving as interim chief executive since Fred Wolfe resigned in December. Tanner will remain in the role of CFO.
Wolfe’s departure followed a change in private-equity partners for Real Mex, which previously was owned primarily by Sun Capital Partners Inc. In November 2008, private-equity firm Kohlberg Kravis Roberts & Co. and hedge funds Farallon Capital Management and Canyon Capital Advisors took control of the company in a debt swap for equity, reducing Sun Capital’s holdings to about 15 percent.
Rivera, who served as chairman of the National Restaurant Association from 2007 to 2008, is known for his work with Darden Restaurants Inc., where he was vice chairman, president and chief operating officer from 2002 to 2004. From 1997 to 2002, he served as president of Darden's Red Lobster chain.
Before his time at Darden, Rivera served in top executive positions at Chart House Enterprises, Rare Hospitality International, Applebee’s, T.G.I. Friday, Del Taco, El Chico and Steak & Ale Restaurants of America.
Real Mex operates 189 restaurants, 155 of which are in California, including 70 El Torito locations, 32 Acapulco Mexican Restaurants and 68 company-owned Chevys. Secondary and one-off brands include the higher-end El Torito Grill and Sinigual, Las Brisas, Casa Gallardo, El Paso Cantina and Who-Song & Larry’s.
The company also includes Real Mex Foods Inc., which is a manufacturer and distributor of Mexican food products for both restaurants and retail.
Contact Lisa Jennings at [email protected].
