August 10, 2023
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This week on Nation's Restaurant News, the top story was Report: Pollo Tropical to be sold for $225M. Fiesta Restaurant Group, the Dallas-based parent company of Pollo Tropical, is reportedly going to be sold to Authentic Restaurant Brands for $225 million. News of the deal was initially reported by the Wall Street Journal Sunday. Fiesta confirmed the all-cash transaction Monday morning.
In other news, Papa Johns International, Inc. continues to struggle during what the company called a “challenging operational environment” as same-store sales drooped 1% during the second quarter ended June 25. According to Papa Johns CEO Rob Lynch, April 2023 was the worst month of same-store sales since he joined the company in August 2019, attributable to low-performing franchisee stores, which lagged behind company-owned store performance.
Also, to celebrate its “liberation” of Taco Tuesday, stemming from Taco John’s relinquishment of the trademark after more than 40 years, Taco Bell wants to cover a $5 million taco tab. Taco Bell today announced it is partnering with DoorDash to cover a portion of taco orders from any participating vendor selling Mexican cuisine on Sept. 12.
See what else was trending on NRN.com.
