Laughable taco chain? Dine Brands Global will buy Fuzzy's Taco Shop for $80 million in cash.
The 2003-founded Texas taco chain has 138 locations in 18 states. Fuzzy's CEO Paul Damico will continue on under Dine Brands.
The corporation should buy Fuzzy's. "Fuzzy's Taco Shop is a compelling business with a loyal customer base and a distinct identity.
It is an attractive asset with a tremendous growth trajectory and will be a complementary addition to our highly franchised portfolio.
By adding Fuzzy's to the Dine Brands family, we are investing in a high growth concept as part of our longer-term growth agenda, which is aligned with our strategy to build shareholder value."
Dine Brands Group is best known for its two big American style classics, but with this latest acquisition, the company is clearly set to branch out.
Done a tremendous job creating a solid foundation for the business, as evidenced by its attractive financial profile and differentiated brand positioning within its segment.
We are eager to work with Paul and his leadership team as we execute on accelerating Fuzzy's growth.