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EL POLLO LOCO HOLDINGS, INC.

(LOCO)
  Report
Delayed Nasdaq  -  04:00:01 2023-02-03 pm EST
12.73 USD   +0.63%
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El Pollo Loco Signs Development Agreement with New Franchise Group to Open Eight Restaurants in Kansas City Area

11/17/2022 | 10:05am EST

COSTA MESA, Calif., Nov. 17, 2022 (GLOBE NEWSWIRE) -- El Pollo Loco, Inc. (“El Pollo Loco” or “Company”) (Nasdaq: LOCO), the nation’s leading fire-grilled chicken restaurant chain, announced today it has signed an eight restaurant franchise agreement to develop the Kansas City area, as well as other parts of Kansas and Missouri over the next 10 years.

The agreement has been signed with new franchisee EPL Missouri LLC, whose leadership team possess more than 50 years of combined retail experience in the restaurant, grocery, liquor and gas station spaces. The group is initially focusing its attention on the Kansas City metro area for potential sites.

“Kansas and Missouri are untapped markets for El Pollo Loco, and we’re so excited to have the opportunity to get involved with the brand in the early stages of its regional expansion,” said Shawn Choudry, one of the partners of EPL Missouri LLC. “The brand is iconic and the menu is different and better than typical fast food. This is certainly a place that has the right recipe for success.”

The expansion announcement comes at a time when El Pollo Loco is aggressively looking to expand its national footprint over the next several years. The company is currently focused on identifying qualified multi-unit franchisees for development opportunities in various parts of the United States with special focus on the Northwest, Southwest and Midwest.

The new restaurants will introduce El Pollo Loco’s new prototype design geared to meet the demands of the company’s off-premise business. Included in the design will be a dining room that potentially opens up to a patio area, digital menu boards, drive-thrus and “Pollo To-Go” cubbies for mobile to-go and delivery orders. Each restaurant will occupy approximately 2,400 square feet of real estate and employ as many as 50 people.

At El Pollo Loco, the chicken is marinated in-house daily with a proprietary recipe of citrus, garlic and spice, fire-grilled over an open flame and hand-cut to order. The freshly grilled chicken serves as the base for an authentic selection of dishes, including individual or family chicken meals, bowls, burritos and salads. The brand is well-known for a range of flavorful menu items that are made fresh daily and offer customers affordable, healthier alternatives versus typical fast food.

“We are thrilled to partner with EPL Missouri LLC to expand our reach into Kansas and Missouri," said El Pollo Loco CEO Larry Roberts. “We are building on the momentum of our core business and firmly establishing the foundation for successful growth. We continue to see interest from both existing and new franchisees to bring El Pollo Loco to new markets and look forward to working with them as we look to expand across the U.S.”

About El Pollo Loco
El Pollo Loco (Nasdaq:LOCO) is the nation’s leading fire-grilled chicken restaurant with a mission to bring people together around food, family, and culture in the communities it serves. El Pollo Loco is renowned for its handcrafted L.A. Mex food, an innovative blend of traditional Mexican cuisine and better-for-you eating, that Los Angeles is known for. Since 1980, El Pollo Loco has successfully opened and maintained more than 485 company-owned and franchised restaurants in Arizona, California, Nevada, Texas, Utah, and Louisiana while remaining true to its Mexican-American heritage. El Pollo Loco continues to grow and evolve, nourishing connections to tradition, culture, and one another through fire-grilled goodness that makes us feel like familia. For more information, visit us at www.elpolloloco.com.

MEDIA CONTACT:
Courtney Simich
Edible, Inc
EPLmedia@edible-inc.com 

Michael Misetic
mmisetic@overtime-pr.com 

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/e6e9c3fe-50c3-49b1-b1c2-63e4256167ce

https://www.globenewswire.com/NewsRoom/AttachmentNg/73994a6e-c0de-4253-99ac-72f3aba458c9


Primary Logo

El Pollo Loco

El Pollo Loco signed a new franchisee to build eight locations in Kansas City and surrounding markets.
El Pollo Loco Chicken

El Pollo Loco is bringing its famous fire-grilled chicken to Kansas City.

ę GlobeNewswire 2022
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Analyst Recommendations on EL POLLO LOCO HOLDINGS, INC.
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Financials (USD)
Sales 2022 469 M - -
Net income 2022 18,9 M - -
Net Debt 2022 - - -
P/E ratio 2022 24,2x
Yield 2022 -
Capitalization 472 M 472 M -
Capi. / Sales 2022 1,00x
Capi. / Sales 2023 0,97x
Nbr of Employees 4 626
Free-Float 53,2%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 12,73 $
Average target price 12,17 $
Spread / Average Target -4,43%
EPS Revisions
Managers and Directors
Laurance Roberts President, Chief Executive Officer & Director
Ira M. Fils Chief Financial Officer & Executive Vice President
Michael Gerard Maselli Chairman
Maria Hollandsworth Chief Operating Officer & Senior Vice President
John M. Roth Independent Director
Sector and Competitors