Foley Ups Stake to Nearly 7% in Restaurant Group

Santa Barbara Restaurant Group Inc. Chairman William P. Foley II has boosted his stake in the Anaheim restaurant holding company to nearly 7%.

Foley, in a Securities and Exchange Commission filing made Wednesday, said he purchased 396,128 shares of the company in September at prices ranging from $3.10 a share to $4.60 a share, increasing his holdings to 458,643 shares.

Santa Barbara shares closed Wednesday at $3.31, up 6 cents, in Nasdaq trading, making Foley’s stake worth more than $1.5 million.

The company, formerly known as GB Foods Corp., operates the Green Burrito fast-food chain and Timber Lodge Steakhouse and Galaxy Diner restaurants.