Pollo Tropical® Signs Multi-Unit Franchise Agreement in Guatemala
First of Five Restaurants to Open in 2013
MIAMI - (BUSINESS WIRE) - The popular Miami-based grilled chicken restaurant chain, Pollo Tropical,® has entered into an exclusive multi-unit franchise agreement in Guatemala with a newly formed food service company, represented by José Garcés and Harold Townson. The agreement calls for the development of at least five Pollo Tropical restaurants, with the first location expected to open in 2013.
Pollo Tropical’s entry into Guatemala comes at a time when that country’s economy continues to grow and marks further expansion of the brand in Central America. The new franchise partners bring years of business experience into the new agreement. Mr. Garcés is an equity partner in the Nais restaurant chain with nine locations in Guatemala, including a famous aquarium-themed destination restaurant in Guatemala City. The Townson family owns successful companies in the construction, real estate and finance industries. With this agreement,
Pollo Tropical expands its international franchise base to ten countries.
“By expanding Pollo Tropical further in Central America, we continue to gain regional strength, which will help us attract investors in the larger Latin markets such as Mexico and Brazil,” said Marc Mushkin, Senior Vice President of International Development for Pollo Tropical. “Our new franchise partners in Guatemala have the right combination of restaurant operations and real estate development experience necessary to undertake a deal of this size, and we are pleased to be entering the market with them.”
About Pollo Tropical®
Pollo Tropical® owns and operates 90 locations in the United States (Florida and Georgia), has more than 30 international franchised locations in Puerto Rico, the Bahamas, Ecuador, Honduras, Panama, Trinidad, Venezuela, and Costa Rica and has agreements in place for additional franchise restaurants in Guatemala, Aruba, Bonaire, and Curaçao. Pollo Tropical also has three licensed units located on college campuses in Florida.
The first Pollo Tropical restaurant opened in 1988 in Miami, Florida. The unique restaurant concept is known for its fresh, never frozen, open flame grilled chicken, marinated in a proprietary blend of tropical fruit juices and spices, as well as authentic “made from scratch” side dishes. For more information on Pollo Tropical, including menu items and nutritional information as well as information about international franchising, visit online at www.pollotropical.com.
Pollo Tropical is part of Fiesta Restaurant Group, Inc., which also owns the Taco Cabana® restaurant chain.
Taco Cabana operates over 150 restaurants in Texas, Oklahoma and New Mexico and offers a wide selection of fresh traditional Mexican food. Fiesta Restaurant Group, Inc., is a public company trading on the NASDAQ Global Select Market under the ticker symbol “FRGI”. Additional information on Fiesta can be found at www.frgi.com.
Pollo Tropical® Restaurants