Private equity-backed El Pollo Loco hires banks to lead IPO


chicken_lrgPrivate equity backed fast-food chicken chain El Pollo Loco is reportedly preparing for an IPO.

The company, which is owned by private equity firms Trimaran Capital Partners and Freeman Spogli, has hired Jefferies Group and Morgan Stanley to lead an IPO, said Reuters, citing people familiar with the matter.

El Pollo Loco currently operates 400 owned and franchised restaurants in Arizona, California, Nevada, Texas and Utah.

The chain posted revenues of $307m in the fiscal year to June 26 2013.

Trimaran bought El Pollo Loco from American Securities in 2005 and the chain secured a $45m investment from Freeman Spogli two years later.

Earlier this month Freeman Spogli acquired Cincinnati-based accessories company Totes Isotoner.

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