the sale included all 30 San Antonio restaurants of Two Pesos. Taco Cabana converted most Two Pesos locations into Taco Cabana restaurants, closed others and sold the associated Shortstop Hamburger chain. Taco Cabana sales hit a high in 1994 at $127 million. That year, Stehling decided to resign as chairman and was succeeded by Richard Cervera. Despite the rise in revenues the company saw while Cervera was in charge, stock prices for Taco Cabana drastically dropped, and Cervera resigned in 1995 and was replaced by Stephen Clark. Business model change and purchase In 1995, Cervera resigned as president for a position with the House of Blues, remaining chairman and CEO. Stephen Clark was appointed both COO and president. Clark began an evaluation of Taco Cabana's operations with his own management team. He closed several of the company-owned restaurants, restructured some of the franchisee debt, sold assets not related to restaurants, and slowed the expansion. In 1996, Taco Cabana introduced a new type of restaurant to the Dallas-Fort Worth area which was reminiscent of an old Mexican cafe. It featured a rounded front, clay tile roofing, aged wood paneling and stainless steel counter tops. As customer visits and profits increased there were plans to extend the designs to new restaurants. Acquisition by Carrols By 2000, Taco Cabana spent around $30 million on brand image and while profits had grown, the stock price remained low. Clark began looking at sale options. In 2001 the company became privately held as a wholly owned subsidiary of Carrols Restaurant Group. After the acquisition, Clark left the company and was succeeded by Mike Biviano. In 2001, it introduced its Mexican grill concept, including made-to-order grilled beef, chicken, pork and shrimp. Throughout 2002, the franchise closed seven stores in the Phoenix, Arizona area, but Taco Cabana proved profitable. In 2003 Taco Cabana began creating a new restaurant prototype with an eight-foot char-grill. That year Taco Cabana opened nine new restaurants. In 2004, it marketed the concept of fresh food and San Antonio heritage. From 2004 through 2005 Taco Cabana added five more restaurants. The franchise operated 120 restaurants in 2005. Fiesta Restaurant Group In 2012, Carrols spun off the Taco Cabana brand and its sister brand Pollo Tropical to establish Fiesta Restaurant Group, Inc. – a public-traded company of its own. As of October 1, 2012, it operated 160 restaurants. In December 2012, Fiesta announced that would