Chevys Fresh Mex
Encyclopedia
Alameda, California
Alameda is a city in Alameda County, California, United States. It is located on Alameda Island and Bay Farm Island, and is adjacent to Oakland in the San Francisco Bay. The Bay Farm Island portion of the city is adjacent to the Oakland International Airport. At the 2010 census, the city had a...
. The chain's headquarters are currently located in Cypress, California
Cypress, California
Cypress is a suburban city located in the northern region of Orange County within Southern California. Its population was 47,802 at the 2010 census.-History:...
. The chain is owned by Real Mex Restaurants, Inc.
History
The chain was founded in 1981 by Warren Simmon his son Scooter Simmon, when they opened their first restaurant in Alameda, CaliforniaAlameda, California
Alameda is a city in Alameda County, California, United States. It is located on Alameda Island and Bay Farm Island, and is adjacent to Oakland in the San Francisco Bay. The Bay Farm Island portion of the city is adjacent to the Oakland International Airport. At the 2010 census, the city had a...
. It grew to 37 restaurants across California by August 1993, when it was acquired
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
by PepsiCo
PepsiCo
PepsiCo Inc. is an American multinational corporation headquartered in Purchase, New York, United States, with interests in the manufacturing, marketing and distribution of grain-based snack foods, beverages, and other products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company...
subsidiary Taco Bell
Taco Bell
Taco Bell is an American chain of fast-food restaurants based in Irvine, California. A subsidiary of Yum! Brands, Inc., which serves American-adapted Mexican food. Taco Bell serves tacos, burritos, quesadillas, nachos, other specialty items, and a variety of "Value Menu" items...
. When PepsiCo
PepsiCo
PepsiCo Inc. is an American multinational corporation headquartered in Purchase, New York, United States, with interests in the manufacturing, marketing and distribution of grain-based snack foods, beverages, and other products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company...
decided to exit the restaurant business in 1997, Chevys was sold to the investment group J.W. Childs Associates
J.W. Childs Associates
J.W. Childs Associates is a private equity firm focused on leveraged buyout and recapitalization transactions for middle-market growth companies. JWC places particular emphasis on consumer products, healthcare and specialty retail companies....
. In 1999, Chevys purchased Rio Bravo Cantina
Rio Bravo Cantina
Rio Bravo was a Tex-Mex style Mexican restaurant serving the metro Atlanta, GA area from its opening in 1985 until its closure in 2002.The Rio Bravo concept began in Atlanta, Georgia, United States, the first restaurant opening in the Buckhead section of Atlanta in May 1985...
, a poorly-performing chain of Mexican restaurants with 66 locations in the United States, from Applebee's International
Applebee's
Applebee’s International, Inc., is an American company which develops, franchises, and operates the Applebee's Neighborhood Grill and Bar restaurant chain. As of September 2011, there were 2,010 restaurants operating system-wide in the United States, one U.S. territory and 14 other countries...
for $59 million.
However, business was poor at the Rio Bravo locations, and in 2003 Chevys' executives had to file for Chapter Eleven
Chapter 11, Title 11, United States Code
Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...
bankruptcy protection. For the next year and a half, Chevys operated as debtor in possession under Chapter Eleven. In January 2005, Chevys and Fuzio Universal Pasta were acquired by Real Mex Restaurants, Inc., the Long Beach, California
Long Beach, California
Long Beach is a city situated in Los Angeles County in Southern California, on the Pacific coast of the United States. The city is the 36th-largest city in the nation and the seventh-largest in California. As of 2010, its population was 462,257...
-based parent company of El Torito
El Torito
El Torito is a Mexican restaurant chain, consisting of 69 restaurants which are located primarily in California. Some of the restaurants are located in Oregon, Arizona, and overseas. El Torito is one of several Mexican cuisine restaurant chains operated by Real Mex Restaurants...
Restaurants and Acapulco Mexican Restaurants. Because of that, Real Mex Restaurants became the largest operator of full-service, Mexican restaurants in the United States.
On October 3, 2011 Real Mex Restaurants
Real Mex Restaurants
Real Mex Restaurants, Inc. is the largest operator of full-service, Mexican restaurants in the U.S..Owned by a private equity firm and headquartered in Cypress, California, they have more than 200 restaurants operating in more than a dozen states. 2006 income was approximately $534 million.In...
filed for Chapter 11 bankruptcy and announced that it was putting itself up for sale citing the poor economy as a reason. As part of the bankrupcy filing, no plans were announced to shutter restaurants or layoff staff.
Restaurants
There are about 65 Chevys restaurants located throughout the United States. Many of these locations are owned by the company; however, some are franchisee-owned.Products
The chain sells a variety of Mexican-style foods, including tortilla chips, salsaSalsa (sauce)
Salsa may refer to any type of sauce. In American English, it usually refers to the spicy, often tomato based, hot sauces typical of Mexican and Central American cuisine, particularly those used as dips. In British English, the word typically refers to salsa cruda, which is common in Mexican ,...
, guacamole
Guacamole
Guacamole , is an avocado-based dip that originated in Mexico. It is traditionally made by mashing ripe avocados with a molcajete with sea salt. Some recipes call for limited tomato, spicy Asian spices such as white onion, lime juice, and/or additional seasonings.-History:Guacamole was made by...
, fruit-flavored margaritas, alcoholic beverages, fajitas, tortilla
Tortilla
In Mexico and Central America, a tortilla is a type of thin, unleavened flat bread, made from finely ground maize...
s, enchilada
Enchilada
An enchilada is a corn tortilla rolled around a filling and covered with a chili pepper sauce. Enchiladas can be filled with a variety of ingredients, including meat, cheese, beans, potatoes, vegetables, seafood or combinations.-Etymology:...
s, and burritos. Approximately 70 percent of Chevys revenue comes from dinner sales, while lunch accounts for roughly 30 percent of sales.