Wednesday, February 21, 2024

El Pollo Loco Holdings announces $12.6M repurchase agreement

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COSTA MESA, Calif. — El Pollo Loco Holdings Inc. has announced that it has entered into a Stock Repurchase Agreement with FS Equity Partners V, L.P. and FS Affiliates V, L.P. to purchase an aggregate of 1,500,000 shares of the company’s common stock at a price of $8.40 for a total purchase price of $12.6 million.

The repurchase was completed on Dec. 4, 2023. In addition, as part of the agreement, the sellers have agreed to refrain from selling any of the remaining common stock owned or controlled by the sellers for a period of 60 days.

This agreement represents a continuation of the company’s confidence in the business and its dedication to stockholder value creation. In total, the company has repurchased approximately $59 million in 2023. Following this agreement, the company has $7.4 million remaining under the $20 million share repurchase authorization that expires on March 31, 2025.

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