Carrols Restaurant Group, Inc. (Nasdaq: TAST), the parent company of Carrols Corporation, announced its intention to divide the company's business into two separate, publicly traded companies through the tax-free spin-off of its Hispanic Brands to its stockholders. The company to be spun-off will own and operate the Pollo Tropical® and Taco Cabana® businesses which had combined revenues of $439.1 million in 2010. Carrols Restaurant Group, Inc. will continue to own and operate its more than 300 franchised Burger King® restaurants.
The company hopes to complete the process by the end of 2011.
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