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FOR
IMMEDIATE RELEASE
Contacts: Julie Weeks
949-399-2150
El Pollo Loco
jweeks@elpolloloco.com
08/13/2007 El Pollo Loco Signs 10 Restaurant Agreement for Charlotte Area Five Guys® Franchisee Introduces North and South Carolina to Leading Mexican Fast-Casual Concept
IRVINE, CA – August 13, 2007 – El Pollo Loco, Inc., the nation’s leader in citrus-marinated, flame-grilled chicken, announced today it has signed a multi-unit agreement with Princess Street Partners- EPL, LLC led by Rick Fisher, to open 10 El Pollo Loco locations throughout the Charlotte market.
“We are thrilled to have seasoned restaurant developers like Rick Fisher as part of our growing franchise team,” said Scott Gillie, Director of Franchise Development for El Pollo Loco. “Princess Street Partners will play an important role in El Pollo Loco’s nationwide expansion by driving the chain’s franchise development throughout Mecklenburg, Union and York counties and introducing the brand in the Charlotte market.”
Fisher is no stranger to franchising. He was a founding investor and Board Advisor in the franchise development company, FranSmart®, which led him to invest in the Five Guys® franchise, an award-winning burger concept. Now with four Five Guys locations in the Charlotte area, Fisher has decided to expand his portfolio with the addition of 10 El Pollo Loco restaurants. “I saw a need in the Charlotte area for unique restaurants that offer fresh food in a quick service atmosphere. El Pollo Loco’s fresh, natural citrus-marinated, flame-grilled chicken and broad assortment of fresh Mexican–inspired entrees is really impressive,” Fisher said.
The development agreement calls for Princess Street Partners- EPL, LLC to develop 10 El Pollo Loco locations over the next five to six years in Mecklenburg and Union counties in North Carolina and York County in South Carolina. Fisher plans to open the first two locations by the end of 2008, and then open two to three restaurants per year.
“Simply put, El Pollo Loco has the best tasting food in its category; nothing comes close in terms of food quality,” said Fisher. “El Pollo Loco truly has the whole package – a healthful dining option with the freshest ingredients and excellent customer service.”
El Pollo Loco earlier announced significant franchise expansion plans, introducing a ‘Next Generation’ prototype for future franchises with broad demographic appeal and design flexibility to drive continued national growth of the 32-year-old proven concept. The new Charlotte-area locations will incorporate the new prototype elements, including contemporary Mexican decor, an open dining area with flexible seating that encourages guests to relax, a self serve salsa bar, and open grill area. In addition to Charlotte, the company has a pipeline of franchise restaurant commitments in California, Arizona, Utah, Texas, Colorado, Oregon, Washington, Georgia, Missouri, Illinois, Virginia, New England, New York and New Jersey.
Founded in Guasave, Mexico in 1975, El Pollo Loco, pronounced “L Po-yo Lo-co,” is famous for the unique preparation of its award-winning “pollo”-- fresh chicken marinated in a special recipe of herbs, spices and citrus juices passed down from the founding family. The marinated chicken is then flame-grilled, hand cut and served hot off the grill with warm tortillas, freshly prepared salsas, and a wide assortment of side dishes. Rounding out the menu are fresh flavorful entrées inspired by the kitchens of Mexico, including signature grilled burritos, The Pollo Bowl® entrees, Pollo Salads, Tacos al Carbon, quesadillas, and more.
About El Pollo Loco
El Pollo Loco currently operates 371 restaurants (212 franchised locations and 159 company-owned restaurants), located principally in California, with additional restaurants in Arizona, Nevada, Texas, Colorado, Illinois and Connecticut. Headquartered in Irvine, California, El Pollo Loco, Inc. is a privately held company owned by Trimaran Capital Partners and company management. For more information about El Pollo Loco, visit the company’s website at www.elpolloloco.com.
This news release contains forward-looking statements, which are statements that do not relate solely to historical fact. They include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events. They may contain words such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “project,” “plan,” “will,” “should,” “may,” “could” or words or phrases of similar meaning. The statements reflect management's current expectations regarding future events. Risk factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to, concerns about food-borne illnesses; negative publicity, whether or not valid; adverse public perception due to the occurrence of avian flu; increases in the cost of chicken; an ultimate adverse ruling in litigation involving El Pollo Loco-Mexico which could result in the imposition of significant monetary damages and loss of rights to the trademarks in Mexico; our dependence upon frequent deliveries of food and other supplies; our sensitivity to events and conditions in the greater Los Angeles area; our reliance in part on our franchisees; our vulnerability to changes in consumer preferences and economic conditions; our ability to compete successfully with other quick service and fast casual restaurants; and other risk factors listed from time to time in the Company's reports filed with the Securities and Exchange Commission. Statements about the Company’s past performance are not necessarily indicative of its future results. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as the result of new information, future events or otherwise.
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