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Consumers are most likely to purchase familiar favorites in 2020.
The deal expands Xperience Restaurant Group’s holdings to nine brands and 62 restaurants.
Xperience Restaurant Group, which bought Real Mex out of bankruptcy last year, is generating quicker-than-expected sales growth and is looking for more, says RB’s The Bottom Line.
Z Capital completes the purchase of what was called Real Mex Restaurants out of bankruptcy court.
Ned Algeo was also named CFO of FM Restaurants, which acquired the owner of El Torito and Chevy’s Fresh Mex for $47 million out of bankruptcy.
As sales continue to weaken, restaurant chains hope mergers will keep them afloat, says RB’s The Bottom Line.
Real Mex Restaurants files for debt protection and has a buyer willing to pay $47 million.
Cano is credited with giving many Americans their first taste of Mexican specialties.
The Mexican category overall saw sales increase by 0.9% to $18 billion and units by 4.1%, to 12,656.
The former Tavistock is taking on the task of reinvigorating such Mexican chains as El Torito and Chevys.