Oct 14 Fiesta Restaurant Group Inc is
alerting potential suitors that it plans to put itself up for
sale, the New York Post reported, citing a source close to the
The owner of the Taco Cabana and Pollo Tropical chains is
expected to distribute sales books soon, according to the
Fiesta's shares, which jumped to a five-month high of
$28.02, were trading up 5.2 percent at $26.73 on Friday.
There has been some early indication of interest from
private equity firms to acquire this business, the Post
The company said in September it was suspending separation
of its Taco Cabana business due to challenging market conditions
and putting on hold adding Pollo Tropical restaurants in Texas,
while reviewing its strategy for the state.
The Dallas-based company, which has a market capitalization
of about $684 million, has reported falling profits for the last
Fiesta was not immediately available for comment.
(Reporting by Aravind K in Bengaluru; Editing by Shounak