Santa Barbara Restaurant Group
| Company type | Public |
|---|---|
| Industry | Restaurant |
| Founded | 1986 |
| Fate | Acquired by CKE Restaurants in 2002 |
| Headquarters | Santa Barbara, California , United States |
| Products | Mexican fast food, steakhouses |
History
Santa Barbara Restaurant Group functioned as a publicly traded restaurant holding company with its headquarters located in Santa Barbara, California. The company originated in 1986 under the name GB Foods Inc., initially established to oversee the Green Burrito Mexican fast-food brand. Its transformation into a multi-brand enterprise occurred following the acquisition of a controlling stake by William P. Foley, chairman of CKE Restaurants, in 1997. This acquisition represented a strategic pivot from managing a single brand to cultivating a diversified portfolio.
In 1998, the company adopted the name Santa Barbara Restaurant Group and pursued growth through multiple acquisitions, such as Timber Lodge Steakhouse, JB's Restaurants, and additional former CKE chains, thereby enhancing its footprint within the casual dining sector. The Mexican fast-food division was further expanded with the purchase of La Salsa in 1999.
To concentrate on its primary business areas—Mexican fast food and steakhouses—the group sold JB's Restaurants in 2000 to investor consortia that included company management. By 2002, Santa Barbara Restaurant Group managed an operational portfolio consisting of 56 La Salsa locations, 25 Timber Lodge Steakhouse restaurants, and 5 Green Burrito outlets, alongside numerous franchised establishments.
In March 2002, CKE Restaurants acquired Santa Barbara Restaurant Group through a stock-for-stock transaction, unifying overlapping board members and achieving operational efficiencies. This merger enabled CKE to expand the Green Burrito dual-brand strategy alongside Carl's Jr. locations. Following the acquisition, CKE divested Timber Lodge in 2004 to prioritize fast-food operations. Despite efforts to broaden La Salsa’s market reach, CKE ultimately sold the chain to Baja Fresh in 2007.
Throughout its existence, Santa Barbara Restaurant Group’s approach emphasized strategic acquisitions and diversification within the restaurant industry, leveraging executive leadership to propel growth and strengthen market presence until its eventual integration into CKE Restaurants.
External links
- Articles with short description
- Defunct companies based in California
- Defunct restaurant chains in the United States
- Companies based in Santa Barbara, California
- American companies established in 1986
- 1986 establishments in California
- 2002 mergers and acquisitions
- CKE Restaurants
- 5
- Companies of the United States by year of establishment