The company, and its shareholders, is offering 10-million shares of its common stock. It will be listed as "TAST" on the Nasdaq, and executives expect the offering to close on Dec. 20.
Carrols refers to Pollo Tropical and Taco Cabana as its "Hispanic Brands." The company owns 73 Pollo Tropical units, mostly in Florida and franchisees run 26, primarily in Florida. The quick-service chain, acquired by Carrols in 1998, sells Caribbean-themed foods and opened its first New York City unit earlier this year.
Taco Cabana is a Mexican-food chain with 141 company-owned restaurants that are mainly in Texas. Franchisees operate three Taco Cabana units. Carrols bought the chain in 2000.
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