December 11, 1987 |
An investment group has taken control of troubled Pioneer Take-Out Corp. after agreeing to buy out the founder and owner of the fried-chicken restaurant chain for an undisclosed amount. Pioneer Acquisition Corp., headed by former California legislator Terrence B. Goggin and investment banker Robert B. MacDonald, took control on Wednesday, the company said. Goggin will serve as the company's chief executive and Mac Donald as chief financial officer. H. R.