September 11, 1988 |
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.
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.