November 4, 1987 |
Newport Beach businessman Anwar Soliman has renewed his efforts to acquire New York-based Restaurant Associates Industries, offering to pay about $97.5 million, or $17 a share, for the restaurant and newsstand chain--despite its management's continuing rejection of Soliman as a suitor. The unsolicited bid, announced Tuesday by Restaurant Associates, comes two weeks before a management-sponsored tender offer to pay about $82 million, or $14.25 a share, is scheduled to close Nov. 16.
January 5, 1990 |
Del Taco/Naugles Inc., the nation's second-largest Mexican-style fast food chain, was acquired Thursday in a management buyout that threatens to resuscitate the taco war with rival Taco Bell. A four-member management group, headed by company President Wayne W. Armstrong, acquired the privately held chain from Newport Beach restaurateur Anwar Soliman for an undisclosed price. Industry analysts estimated the deal's value at $100 million to $150 million.
February 2, 1988 |
Del Taco and Naugles, two of the best-known names for Mexican fast-food in California, are being combined by one owner who plans to make the new company a national chain challenging industry leader Taco Bell. The combination would create the second-largest Mexican fast-food chain in the United States and the largest in California, with 373 restaurants.
September 5, 1987 |
Restaurant Associates Industries Inc. said Friday that it will consider an $80-million management buyout proposal along with a $94.8-million takeover offer from Newport Beach restaurateur Anwar S. Solimon. The management group--led by Martin Brody, chairman and chief executive officer, and Max Pine, president and chief operating officer--has offered $14 a share in a leveraged buyout that would take New York-based Restaurant Associates private.