$114 Million Buys El Pollo Loco
A New York investment firm said Wednesday that it has completed its acquisition of Irvine-based El Pollo Loco, the fast-food chain said Wednesday.
American Securities Capital Partners paid $114 million for the 25-year-old company and is assuming $15 million in the chain’s debt.
El Pollo Loco’s previous owner, Advantica Restaurant Group Inc., put the 274-unit chain up for sale in June, saying it wanted to focus on remodeling its family-dining restaurants. Advantica, which is based in South Carolina, owns Denny’s and two other Irvine-based chains, Coco’s and Carrows.
American Securities said El Pollo Loco’s management team will remain intact as the company moves to open more restaurants in its core areas, mostly in California. The chain has 36 restaurants in Orange County.
