El Pollo Loco Inc. (Nasdaq: LOCO) has signed three new development deals to open locations in first-time territories Northern Colorado, New Mexico, and El Paso.
A total of 26 new restaurants will be developed over the next several years.
10 units are scheduled to open in Larimer, Boulder, Broomfield and Weld counties in Colorado over the next eight years in a partnership with the firm Mass Equities LLC. In New Mexico, the deal with new franchisees CB Restaurants includes the development of nine locations with the first due by November next year. Lastly, seven restaurants are set for El Paso led by franchise group TX DMA with one scheduled to open in May 2025.
The Costa Mesa-based restaurant chain currently counts 490 restaurants systemwide and anticipates opening nine to 14 new locations in 2023.
The chain reported total revenue of $114.5 million for the quarter ended March 29, up 4.1% from a year ago.