Costa Mesa-based Mexican fast food chain El Pollo Loco Inc. raised $45 million in private equity funding from Los Angeles private equity firm Freeman Spogli & Co.
El Pollo Loco plans to use the money to open restaurants as part of a national expansion.
The company runs 159 restaurants and franchises 230 others in California and eight other states.
In the third quarter, El Pollo had revenue of $72.3 million, up 9% from a year earlier.
Operating income fell 32% to $2.9 million on higher restaurant costs and the sale of eight Southern California locations to buy 11 in Las Vegas.
New York-based private equity firm Trimaran Capital Partners owns the majority of El Pollo Loco.
