San Diego Union Tribune:

Pat & Oscar’s, the San Diego restaurant chain built on breadsticks, has been bought by its management team, which hopes to steer the company through the recession and ultimately expand it.

“The economy has really opened up an opportunity for the management,” said Chief Executive John Kaufman, who took the top post last April with an eye for buying the 19-restaurant company with partner Tim Foley, now vice president.

“There’s no better way to do due diligence than running the company,” Kaufman said.

He declined to spell out the terms of the transaction.

Since taking over, the management team has brought back baby back ribs, moved headquarters from Mira Mesa to Carlsbad, laid off some management staff and spun off restaurants in Brea, Palm Desert and Buena Park to franchisees.

Negotiations are nearly completed to sell a fourth store, in San Bernardino, to franchisees. Read more.