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BUSINESS
January 5, 1990 | JOHN O'DELL, TIMES STAFF WRITER
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 Chief Executive and 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 between $100 million and $150 million.
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BUSINESS
January 5, 1990 | JOHN O'DELL, TIMES STAFF WRITER
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.
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BUSINESS
September 11, 1988 | MARY ANN GALANTE, Times Staff Writer
Do you like your chicken fajitas made with dark meat or light meat? And what's the best way to whip up a batch of guacamole or salsa? If you've ever had an argument in the kitchen over a recipe, you'd probably appreciate the battle brewing in the corporate offices--and over the stoves--at the giants of California's Mexican fast-food market: Del Taco and Taco Bell. Things have been heating up since restaurant magnate Anwar Soliman bought both Del Taco and Naugles last March.
BUSINESS
January 5, 1990 | JOHN O'DELL, TIMES STAFF WRITER
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 Chief Executive and 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 between $100 million and $150 million.
BUSINESS
November 4, 1987 | MARY ANN GALANTE, Times Staff Writer
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.
BUSINESS
January 5, 1990 | JOHN O'DELL, TIMES STAFF WRITER
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.
BUSINESS
February 2, 1988 | MARY ANN GALANTE, Times Staff Writer
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.
BUSINESS
September 5, 1987 | MARY ANN GALANTE
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.
BUSINESS
September 11, 1988 | MARY ANN GALANTE, Times Staff Writer
Do you like your chicken fajitas made with dark meat or light meat? And what's the best way to whip up a batch of guacamole or salsa? If you've ever had an argument in the kitchen over a recipe, you'd probably appreciate the battle brewing in the corporate offices--and over the stoves--at the giants of California's Mexican fast-food market: Del Taco and Taco Bell. Things have been heating up since restaurant magnate Anwar Soliman bought both Del Taco and Naugles last March.
BUSINESS
February 2, 1988 | MARY ANN GALANTE, Times Staff Writer
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.
BUSINESS
November 4, 1987 | MARY ANN GALANTE, Times Staff Writer
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.
BUSINESS
September 4, 1987 | MARY ANN GALANTE, Times Staff Writer
A Newport Beach restaurateur, whose company earlier this year bought Stuart Anderson's Black Angus and Velvet Turtle chains, is seeking to buy a firm that owns the Acapulco Restaurants chain, based in Long Beach, and Mama Leone's in New York. In a merger proposal valued at more than $80 million, Anwar S. Solimon has offered to buy all of the outstanding stock of Restaurant Associates Industries, which owns and operates more than 100 restaurants and 154 Eastern Lobby Shops newsstands.
BUSINESS
September 4, 1987 | MARY ANN GALANTE, Times Staff Writer
Newport Beach restaurateur Anwar S. Solimon has offered to pay more than $80 million for a New York company whose holdings include California's Acapulco Restaurants chain and the legendary Mama Leone's Italian restaurant in Manhattan. Restaurant Associates Industries Inc., which owns and operates more than 100 restaurants and 154 newsstands, said Thursday it is evaluating an unsolicited merger proposal made by Solimon.
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