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El Pollo Loco CEO Sees Plenty of Opportunity in Fast Casual


El Pollo Loco (LOCO) shares surged more than 30% on Friday after the stock debuted on the Nasdaq. The fast-casual chicken chain raised $107 million after pricing 7.14 million shares at $15 a share, the high end of the given range of $13-$15. CEO Steve Sather tells TheStreet that the 400-store chain, located in five states, has the potential to become a national brand, but for now it is sticking to a five-year plan to expand where it currently is in the Southwest. Sather also says that it is not trying to be the next Chipotle. Rather, there is plenty of opportunity in the fast casual space because consumers are demanding -- and willing to pay more -- for higher quality and healthier food.