Cypress-based Real Mex Restaurants Inc., operator of El Torito, Acapulco and Chevys Fresh Mex chains, said Wednesday it plans to hire an adviser to look at “strategic alternatives” that could lead to a sale of the company.
Real Mex didn’t elaborate on its plans except to say, “The company can give no assurances that it will pursue any alternative.”
New York-based Bruckmann, Rosser, Sherrill & Co. and Jefferies & Co., own about two-thirds of Real Mex.
For 2005, Real Mex has sales of $534 million, up 63% from a year earlier on the acquisitions. The company didn’t talk about profitability for the year in its statement on Wednesday.
In the third quarter, the company had $3.2 million in net income on sales of $131 million.
Real Mex runs nearly 200 restaurants, most in California.