Gb Foods Corp

GB Foods Corp. said Thursday that Deli International of Omaha Inc. has agreed to distribute a variety of Green Burrito brand food products. GB Foods, based in Anaheim, franchises the Green Burrito Mexican-style restaurants. Deli International, based in Omaha, Neb., produces pizza products that are distributed in 35 states through grocery and convenience stores and warehouse clubs. The company will begin distributing Green Burrito brand products later this year.

GB Foods Corp.'s deal to buy a Minnesota steakhouse chain may unravel if its stock price doesn't improve in the coming weeks. Shares of the parent of the Green Burrito Mexican fast-food chain fell 19%, or $1.88, Tuesday, to $8.50. Chief Executive Andrew F. Puzder said the company had no news to report and speculated that the sharp downturn may be tied to the death late Monday of Bob Martyn, a stockbroker at Pauli & Co. of St. Louis.

GB Foods Corp., which operates Green Burrito restaurants, reported net income of $233,000, or 3 cents a share, 66% higher than the $140,000, or 2 cents a share, for the third quarter of 1996. The company attributed the gain to continued expansion of both franchise and dual-concept restaurants. Revenue increased 17% to $1.4 million from $1.2 million. As of Sept. 30, there were 101 Carl's Jr./Green Burrito dual-concept stores, 17 of which were opened during the third quarter.

GB Foods Corp., which operates the Green Burrito chain of Mexican restaurants, said Monday it has taken steps to provide more protection from an unwanted takeover. The company said, however, that it is not aware of any such effort. Under the plan, stockholders will receive rights to acquire additional shares of the company's stock at a discount to the market price if an individual or group acquires a stake of 15% or more. The rights distribution will be made Aug.

Nature of Business: Own and operate Green Burrito restaurants Total Employees: 201 In Orange County: 104 Stock Listing in The Times: On NASDAQ as "GB Fds" Ticker Symbol: "GBFC" Friday's Close: $3.13 One-Week Change: Up $0.25 Analyst Review: "GB Foods is a solid company in terms of a product, and the concept seems to be catching on. They plan to open 32 more stores this year. Company revenues grew 46% last year, and existing stores have reported 5% increases in sales.

GB Foods Corp., operator and franchiser of Green Burrito fast-food restaurants, narrowed its losses in the first quarter while revenue dropped 20%. The company lost $242,087, or 4 cents a share, compared with a net loss of $1.1 million, or 20 cents a share, for the same period in 1995. The year-earlier figure included a charge of $716,393 from litigation settlements and related costs. Revenue was down 20% to $1.2 million from $1.5 million.

GB Foods Corp., which owns and franchises Green Burrito restaurants, said its net loss for the second quarter narrowed to $74,000, or 1 cent a share, from a net loss of $392,000, or 6 cents a share, for the same period in 1995. Revenue declined 29% to $1.2 million from $1.7 million. The company said it lost $316,000, or 5 cents a share, for the first six months, compared with a net loss of $1.5 million, or 25 cents a share, a year earlier. Revenue was down 27% to $2.4 million from $3.34 million.

GB Foods Corp., which operates the Green Burrito chain of Mexican restaurants, said Monday it has taken steps to provide more protection from an unwanted takeover. The company said, however, that it is not aware of any such effort. Under the plan, stockholders will receive rights to acquire additional shares of the company's stock at a discount to the market price if an individual or group acquires a stake of 15% or more. The rights distribution will be made Aug.

GB Foods Corp., operator and franchiser of Green Burrito fast-food restaurants, narrowed its losses in the first quarter while revenue dropped 20%. The company lost $242,087, or 4 cents a share, compared with a net loss of $1.1 million, or 20 cents a share, for the same period in 1995. The year-earlier figure included a charge of $716,393 from litigation settlements and related costs. Revenue was down 20% to $1.2 million from $1.5 million.

GB Foods Corp. of Newport Beach and Hardee's Food Systems Inc., a Rocky Mount, N.C.-based burger chain, will test dual-menu restaurants at a handful of locations beginning early next year, the companies said Wednesday. The first jointly operated Green Burrito and Hardee's restaurant will open in Oklahoma, and as many as 20 jointly operated restaurants eventually will be opened. Green Burrito's Mexican-style fast food menu also is being added to about 200 Carl's Jr. fast-food restaurants.

GB Foods Corp., which operates Green Burrito restaurants, reported net income of $233,000, or 3 cents a share, 66% higher than the $140,000, or 2 cents a share, for the third quarter of 1996. The company attributed the gain to continued expansion of both franchise and dual-concept restaurants. Revenue increased 17% to $1.4 million from $1.2 million. As of Sept. 30, there were 101 Carl's Jr./Green Burrito dual-concept stores, 17 of which were opened during the third quarter.

GB Foods Corp. said it has settled a lawsuit brought by a group of franchisees of GB's Green Burrito fast-food restaurants. The settlement provides 400,000 shares of common stock to be held in escrow for the plaintiffs, but no cash payments. The company did not say on Friday how many plaintiffs were involved or the nature of their lawsuit, and a spokesman could not be reached for comment. The company said the litigation cost $2.9 million to defend and contributed to the bulk of $4.

GB Foods Corp. filed suit Thursday against the parent company of the Carl's Jr. fast-food chain, alleging misappropriation of trade secrets and breach of contract and seeking more than $100 million in damages. In the lawsuit, filed in Los Angeles County Superior Court, GB Foods, parent of the Green Burrito restaurant chain, alleges that Anaheim-based CKE Restaurants Inc. copied GB Foods' concept when it launched Picante Grill, an addition of Mexican-style menu items at a Carl's Jr.