06282017Headline:

JCP Urges Fiesta Restaurant Group Stockholders To Vote The Gold Card

Jun 6, 2017 - (Newswire)

- JCP Investment Management, LLC, together with its affiliates and the other participants in its solicitation (collectively, "JCP" or "we"), collectively one of the largest stockholders of Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ: FRGI), with aggregate ownership of approximately 9.0% of the Company's outstanding shares, today reminded stockholders to vote the GOLD proxy card at the Company's upcoming Annual Meeting to be held on June 7, 2017.

In its detailed investor presentation, which is available at tinyurl.com/FRGI-Presentation, JCP outlined a prudent strategy for Fiesta to achieve $150 million in EBITDA in 4 years.

View Table Fullscreen

Illustrative Plan

2021E

Taco Cabana

Pollo Tropical

Consolidated

Revenues

377,937

420,006

797,943

Restaurant Level EBITDA before Ads

88,447

117,560

206,007

Franchise Fees

6,311

4,600

10,911

Ads

10,000

10,000

20,000

G&A

20,157

25,462

45,619

Adjusted EBITDA

64,601

86,698

151,299





EV / Adjusted EBITDA

8.0x

9.0x

8.6x

Enterprise Value

516,809

780,286

1,297,094

Debt

-

-

71,423

Cash

-

-

175,168

Equity Value

-

-

1,400,839





Stock Value

-

-

$52.24





Assumptions




Company Stores

186

167

353

Franchise Stores

51

57

108

Average Unit Volume

2,025

2,556

-

Restaurant Level Margin

23.8%

28.3%

25.8%

AUV CAGR from 2016

1.3%

1.7%

-

If elected, our highly qualified nominees, John B. Morlock and James C. Pappas, eagerly look forward to working with new CEO Rich Stockinger and the other members of the Board of Directors to restore stockholder value and improve Fiesta's corporate governance.

VOTE THE GOLD PROXY CARD TO ELECT JOHN B. MORLOCK AND JAMES C. PAPPAS TODAY

If you have any questions, or require assistance with your vote, please contact InvestorCom, toll-free at (877) 972-0090, call direct at (203) 972-9300

About JCP Investment Management:

JCP Investment Management, LLC is an investment firm headquartered in Houston, TX that engages in value-based investing across the capital structure. JCP follows an opportunistic approach to investing across different equity, credit and distressed securities largely in North America.

Investor Contacts:

James C. Pappas
JCP Investment Management, LLC
(713) 333-5540

John Glenn Grau
InvestorCom
(203) 972-9300

Media Contact:

Gotham Communications
Bill Douglass, (646) 504-0890
bill@gothamcomm.com

SOURCE JCP Investment Management, LLC

Related Links

www.jcpinv.com

Original Source: https://www.newswire.com/news/jcp-urges-fiesta-restaurant-group-stockholders-to-vote-the-gold-card

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