Pollo Tropical restaurant chain to be sold, WSJ reports

The Pollo Tropical restaurant chain is nearing a deal to be bought by an investment firm for $225M, The Wall Street Journal’s Lauren Thomas reports. Authentic Restaurant Brands, part of New York-based Garnett Station Partners, plans to add the fast-casual restaurant operator to a portfolio that already includes sandwich chain Primanti Bros., according to people familiar with the matter. The deal for Pollo Tropical parent Fiesta Restaurant Group is worth $8.50 per share, the author notes. The deal is expected to be made official by Monday.