Fiesta Restaurant Group is an American restaurant chain headquartered in Dallas, Texas, primarily owning Pollo Tropical branded locations in Florida. The company was a Corporate spin-off from Carrols Restaurant Group in 2012.
Stock in the company was traded on NASDAQ as FRGI until October 2023 when it was taken private by investment firm Garnett Station Partners through its subsidiary Authentic Restaurant Brands.[1]
By 2019, Fiesta's revenue was $661 million and it employed over 10,000 people.
History
In 2011, Carrols Restaurant Corp. announced its intentions of separating its Hispanic brands and Burger King restaurant business into two separate public companies. The Hispanic brands were placed under Fiesta Restaurant Group, the new subsidiary of Carrols Restaurant Corp. Fiesta Restaurant Group companies had a combined revenue of $439.1 million in 2010.
In August 2011, Carrols Restaurant Corp named Tim Taft the CEO of Fiesta Restaurant Group (FRG), succeeding Fiesta chairman Alan Vituli. By the time the separation of the brands was complete in 2011, FRG saw an 8.2 percent revenue increase for the year and finished at $475.0 million in 2011.