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Rubio's Acquires Four Locations From Franchisee in Las Vegas, Nevada |
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Rubio's Fresh Mexican Grill (NASDAQ:RUBO) announced today that it has purchased four Rubio's Fresh Mexican Grill restaurants in Las Vegas from its franchise group, Fish Taco Pacifico Corporation, for approximately $500,000 in cash. |
The acquisition of the four restaurants in one of the fastest growing U.S. cities supports Rubio's continued growth strategy to add company-owned locations.
"We are excited to continue our growth strategy with the purchase of these four locations in Las Vegas," said Ralph Rubio, Chairman and CEO. "The opportunity for growth in Las Vegas is tremendous, and we recognize that to support our strategy it is key to have a company-owned presence in this market."
The Company estimates opening 10-12 new restaurants in 2006, primarily in the Los Angeles, San Diego and Phoenix markets. In April of this year, the first location from franchisee, Food Courts of Nevada, Inc., opened at the Red Rock Casino, Resort and Spa in Las Vegas.
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