Report: El Pollo Loco Eyeing IPOFriday, March 28, 2014
The owners of Costa Mesa-based El Pollo Loco Holdings Inc. are looking to take the company public, according to a report from the Wall Street Journal.
The report cited an unidentified source and did not include any other details.
The company could not be immediately reached for comment.
El Pollo Loco has more than 400 restaurants and has spent the last few years retooling store operations and its executive team under Chief Executive Steve Sather. New hires included Chief Operating Officer Kay Bogeajis, previously vice president of retail operations for Peet's Coffee & Tea; and Chief Financial Officer Larry Roberts, a former chief operating officer for Yum! Brands Inc.'s KFC business.
El Pollo Loco is owned by private equity firms Trimaran Capital Partners in New York and Los Angeles-based Freeman Spogli & Co.
The chain had systemwide sales of $607 million in 2012, the most recent data available.
Steve Sather told the Business Journal earlier this year that the chain is profitable.
El Pollo Loco had planned a $135 million initial public offering in 2006 but pulled it citing market conditions.