Chi-Chi’s Gets New President: Foodmaker Inc., the...
Chi-Chi’s Gets New President: Foodmaker Inc., the San Diego-based owner of Jack in the Box and Chi-Chi’s restaurants, said Monday it has appointed Mohammad Iqbal president of Chi-Chi’s--a chain soon to be acquired by Restaurant Enterprises Group of Irvine.
Under the terms of the complicated agreement, Foodmaker and two other investors--Apollo Advisors L.P. in New York and Green Equity Investors L.P. in Los Angeles--will buy REG, which owns Carrow’s, Coco’s and El Torito restaurants. REG will be renamed Family Restaurants Inc. Iqbal will serve as president of the company’s Mexican restaurants division, overseeing Chi Chi’s and El Torito.
The transaction is expected to be completed later this month.
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