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Great product and niche. lots of room to continue expanding
better than average growth
TexMex by people who know how to make a better taco.
Spun off from Carroll's restaurant group in 2012, Fiesta features two kinds of fast food restaurants, Polo Tropical, with a Cuban Chicken menu, and Taco Cabana (both totaling about 250 restaurants). Most of the domestic restaurants are in Florida and Texas and the group's international presence is centered in Latin America. About half of the stores are franchised.The new management team is focused on improving service, store cleanliness, and updating decor and improving branding and facilities. They have hired experts in supply chain economics to evaluate cost savings and are seeing immediate results from this hire. The Polo segment is well positioned in the 'healthy' fast food market with customer survey responses saying the Polo restaurants feature 'food you can feel good about eating' such as grilled chicken. The Polo group is seeing considerable same store increases in revenue. As the group works on expansion they are extending beyond 'latin centric' populations having completed research that reveals the menus have a wider appeal, identifying prime real estate in high traffic areas for new locations. I think FRGI has great potential and we will see it outperform the market in the next couple of years.
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