Taco Bell Finalizes Chevys Purchase: Taco Bell...
Taco Bell Finalizes Chevys Purchase: Taco Bell Corp. said Friday it has finalized its purchase of Chevys, a 37-unit Mexican restaurant chain, for an undisclosed amount.
Chevys, based in San Francisco, projects revenue for 1993 to be nearly $95 million.
Taco Bell, a subsidiary of Pepsico Inc., plans to expand Chevys into a national chain of several hundred units as part of its effort to enter the full-service restaurant market. All of Chevys restaurants now are in California.
Taco Bell has 3,900 fast-food, Mexican-style restaurants nationwide, about two-thirds of which are owned and operated by the Irvine-based company.
Mike Hislop will continue as Chevys chairman and chief executive.
Terms of the acquisition, which was announced in May, were not disclosed.
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