(Reuters) - Activist investor JCP Investment Management said it would nominate three members to Fiesta Restaurant Group Inc's <FRGI.O> board of directors.

JCP Investment, which holds about 7.1 percent of Fiesta's outstanding shares, said it was concerned about the massive decline in value that Fiesta stockholders have suffered over the past several years.

Fiesta owns, operates and franchises fast-casual restaurant brands Pollo Tropical and Taco Cabana.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Maju Samuel)