Fiesta Restaurant Group, Inc. (FRGI): history, ownership, mission, how it works & makes money

A Brief History of Fiesta Restaurant Group, Inc. (FRGI)

Formation and Early Years

Fiesta Restaurant Group, Inc. was established in 2012 as a spin-off from the publicly traded company, Carrols Restaurant Group, Inc. The company is headquartered in Addison, Texas. It operates two primary restaurant brands: Pollo Tropical and Taco Cabana.

Initial Public Offering

Fiesta Restaurant Group went public on the NASDAQ stock exchange under the ticker symbol FRGI. The initial public offering (IPO) took place on July 24, 2013, and raised approximately $94 million.

Expansion of Pollo Tropical

As of October 2023, the Pollo Tropical brand operates approximately 140 locations primarily in Florida. The brand is known for its Caribbean-inspired menu, focusing heavily on chicken dishes, which leverage a unique grill cooking style.

Taco Cabana Developments

Taco Cabana, acquired by Fiesta Restaurant Group in 2013, operates about 150 locations across Texas and New Mexico. The brand has a menu centered around Mexican fast-casual dining, featuring items such as tacos, enchiladas, and burritos.

Financial Performance

In fiscal year 2022, Fiesta Restaurant Group reported total revenues of approximately $331 million. The gross profit for the same year was recorded at $107 million, with a net income of $10 million.

Impact of COVID-19

The COVID-19 pandemic significantly affected the restaurant industry, with Fiesta Restaurant Group experiencing a drop in sales during 2020. The company implemented safety protocols and pivoted to increase drive-thru and delivery services to adapt to changing consumer preferences.

Recent Developments

As of 2023, Fiesta Restaurant Group is pursuing growth strategies aimed at expanding its restaurant footprint. In the second quarter of 2023, the company announced plans to open 10 new locations for Pollo Tropical within Florida and reinvigorating Taco Cabana with new marketing initiatives.

Stock Performance

As of October 2023, the stock price of Fiesta Restaurant Group was approximately $12.50 per share. The company’s market capitalization stands at roughly $350 million.

Future Outlook

Fiesta Restaurant Group aims to focus on enhancing customer experience, menu innovation, and optimizing operations to address competitive pressures in the fast-casual dining sector. The projected revenue growth for the upcoming fiscal year is estimated at 15%.

A Who Owns Fiesta Restaurant Group, Inc. (FRGI)

Ownership Structure

The ownership of Fiesta Restaurant Group, Inc. (FRGI) is structured through various institutional and retail investors, along with a significant management ownership component. As of the latest filings, the ownership distribution is as follows:

Key Institutional Shareholders

Significant institutional shareholders of FRGI are vital for understanding the ownership landscape. The top institutional investors include:

Management Team Ownership

Management team members also hold a significant stake in FRGI, reflecting their commitment to the company's strategy and future performance. The management ownership breakdown includes:

Recent Developments

As of the latest financial disclosures, Fiesta Restaurant Group has undergone certain strategic changes that have impacted ownership dynamics:

• Merger & Acquisition Activities: The company was involved in discussions regarding the acquisition of similar business entities in the past year.
• Stock Buybacks: FRGI announced a stock buyback program, aiming to reduce the number of outstanding shares, which can affect institutional ownership proportions.
• Dividend Policy: Decisions regarding dividend payments have influenced retail investor interest and ownership levels.

Stock Performance

The performance of FRGI stock in recent months has been closely watched by investors. As of October 2023, the stock price is:

Conclusion on Ownership

Fiesta Restaurant Group, Inc. illustrates a mix of institutional dominance with a notable management stake, reflecting confidence in its operational strategy. Ongoing market conditions and strategic decisions will likely continue to influence the ownership landscape.

Fiesta Restaurant Group, Inc. (FRGI) Mission Statement

Overview of the Company

Fiesta Restaurant Group, Inc. operates a diverse portfolio of restaurants, with a strong focus on providing quality dining experiences. The company primarily manages two restaurant brands: Pollo Tropical and Taco Cabana.

Mission Statement

The mission of Fiesta Restaurant Group, Inc. is to provide a unique and flavorful dining experience by delivering authentic Caribbean and Mexican food, while ensuring exceptional service and quality. The company emphasizes a commitment to operational excellence and community engagement.

Core Values

• Quality: Commitment to high food quality and freshness.
• Service: Focus on fostering a customer-centric environment.
• Community: Engagement in local community initiatives.
• Integrity: Adherence to ethical business practices.
• Teamwork: Collaboration among staff for enhanced service delivery.

Financial Performance

As of the latest fiscal year, Fiesta Restaurant Group, Inc. reported the following financial highlights:

Market Presence

Fiesta Restaurant Group, Inc. operates over 150 restaurant locations across the United States, primarily in the Southeast and Southwest regions. The company aims to expand its brand presence while maintaining consistency in quality across all its outlets.

Strategic Goals

The strategic goals outlined by Fiesta Restaurant Group include:

• Enhance brand recognition through marketing initiatives.
• Expand the footprint of restaurant locations.
• Improve operational efficiencies to enhance profitability.
• Innovate menu offerings to cater to evolving consumer preferences.

Community Engagement

Fiesta Restaurant Group is actively involved in community support initiatives, such as:

• Local Sponsorships: Engaging in partnerships with local schools and organizations.
• Philanthropic Efforts: Donations to local food banks and charities.
• Employee Volunteer Programs: Encouraging staff participation in community service activities.

Future Outlook

Looking ahead, Fiesta Restaurant Group, Inc. is focusing on:

• Continued innovation in menu development to attract new customers.
• Strategic location expansion targeting high-growth markets.
• Investment in technology to improve customer experience and operational efficiency.

Conclusion

The mission statement of Fiesta Restaurant Group, Inc. encapsulates its dedication to providing quality food and service within a community-focused framework. The financial and operational metrics highlight the company’s ongoing commitment to growth and excellence.

How Fiesta Restaurant Group, Inc. (FRGI) Works

Overview of Fiesta Restaurant Group, Inc.

Fiesta Restaurant Group, Inc. (Ticker: FRGI) operates a chain of restaurants primarily in the casual dining sector in the United States. As of the end of 2022, the company managed approximately 150 restaurants under two main brands: Pollo Tropical and Taco Cabana.

Financial Performance

In the fiscal year 2022, Fiesta Restaurant Group reported the following financial performance metrics:

Restaurant Brands

The two main brands of Fiesta Restaurant Group consist of:

• Pollo Tropical
• Taco Cabana

Pollo Tropical

Pollo Tropical specializes in Caribbean-inspired cuisine. As of December 2022, it had approximately 140 locations. Key financial figures for Pollo Tropical for the fiscal year 2022 include:

Taco Cabana

Taco Cabana focuses on Mexican-inspired fast-casual dining. As of December 2022, it operated around 80 restaurants. Financial metrics for Taco Cabana in 2022 include:

Growth Strategy

Fiesta Restaurant Group focuses on several key areas for growth:

• Expansion of restaurant locations
• Menu innovation
• Improvement of customer experience
• Enhancing marketing strategies

Recent Developments

In October 2023, Fiesta Restaurant Group announced a new strategic partnership aimed at digital ordering and delivery efficiencies. The estimated investment for this initiative is approximately $5 million.

Workforce and Employment

As of 2022, Fiesta Restaurant Group employed around 5,000 staff across its restaurant locations. The average wage was reported at $13.25 per hour.

Shareholder Information

Fiesta's stock performance has seen fluctuations, with a closing price of $8.15 as of October 2023. The market capitalization stood at approximately $130 million. Dividend payments have been suspended since Q1 2020.

How Fiesta Restaurant Group, Inc. (FRGI) Makes Money

Revenue Streams

Fiesta Restaurant Group generates revenue primarily through two main brands: Pollo Tropical and Tex-Mex, each contributing distinct financial performance.

Pollo Tropical Performance

Pollo Tropical is known for its Caribbean cuisine. As of the latest fiscal year, Pollo Tropical's sales reached approximately $202 million.

Tex-Mex Performance

The Tex-Mex brand, which includes the restaurants under the brand name Casa Ole, reported sales of approximately $99 million in the same period.

Average Unit Volume (AUV)

The average unit volume for a Pollo Tropical restaurant is about $1.5 million annually.

Table of Revenue Contributions by Brand

Cost Structure

Fiesta Restaurant Group incurs various costs, including food and beverage costs, labor costs, and other operating expenses. The overall food cost for the last fiscal year averaged 28% of sales.

Labor Costs

Labor costs typically account for about 30% of total revenues.

Marketing and Promotions

The company allocates approximately 4% of sales to marketing and promotional activities.

Expansion Strategy

• Opening new locations, with a goal of increasing the number of Pollo Tropical restaurants by 10% annually.
• Targeting high-traffic areas to enhance brand visibility.

Franchising Opportunities

Fiesta has been expanding its footprint through franchising, generating additional revenue. In 2022, franchise revenues accounted for approximately $8 million.

Financial Overview

In terms of net income, Fiesta Restaurant Group reported a net loss of $3.4 million for the last fiscal year, mainly due to increased operating costs and expenses.

Recent Financial Highlights

Conclusion of Financial Performance

The company has made strategic investments to enhance operational efficiency, focusing on menu innovation and technology integration. The financial trends suggest an ongoing effort to return to profitability.