LOCO - El Pollo Loco to roll into new territories with development deal
2023-05-09 09:50:05 ET
El Pollo Loco Holdings ( NASDAQ: LOCO ) announced the signing of three new development agreements covering territories in Northern Colorado, New Mexico and El Paso, Texas.
A deal has been signed with MEQ EPL, a company with diverse investments across key western U.S. real estate markets, for the development of ten units over eight years.
The first restaurants are due by December of 2024 for Larimer County and portions of Boulder, Broomfield and Weld Counties in Northern Colorado. The second deal was signed with CB Pollo NM 1 and CB Pollo Tx 1 for the development of nine units in New Mexico, with the first due November of 2024, and seven units in the El Paso, Texas area with the first due in May of 2025. The company does not currently have restaurants in those territories.
The expansion announcement comes at a time when El Pollo Loco ( LOCO ) is aggressively looking to increase its national footprint to bring more locations to more people who have not previously experienced the brand.
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El Pollo Loco to roll into new territories with development deal