Bankruptcy Asset Sale leads Real Mex to Rebrand
According to Nation's Restaurant News, Real Mex Restaurants Inc., which for decades has operated one of the largest collections of full-service Mexican food restaurants in the U.S., has rebranded under new owner FM Restaurants HoldCo.
The affiliate of private-equity firm Z Capital Partners LLC has completed its acquisition of assets of the Cypress, Calif.-based company, which filed for Chapter 11 bankruptcy protection in early August.
The refreshed company will be led by CEO Randy Sharpe and CFO Ned Algeo, both former Real Mex executives. Cypress, Calif.-based Xperience XRG will run the Acapulco, Chevys, El Torito, El Torito Grill, Las Brisas, Pink Taco, Who Song and Larry’s and Sinigual brands. As of Tuesday, the former Real Mex website has been rebranded as Xperience.
James Zenni, CEO of Z Capital, said Xperience will “pursue organic growth opportunities to expand” the footprint of the company while also pursuing “strategic acquisitions to drive value for our stakeholders."
In a statement, Sharpe, previously the senior vice president of operations at Romano's Macaroni Grill, said each brand is strong and has loyal customers.
“As the restaurant industry evolves, we are confident that Xperience XRG is well-positioned to capitalize on its hospitality-focused culture and continue providing guests with an unparalleled dining experience and innovative menu offerings,” he said.