Restaurant operator Red Robin Gourmet Burgers Inc. on Thursday said it completed its acquisition of 15 of the 17 franchised Red Robin restaurants in California for $41.9 million, effective June 18.
Red Robin also paid $320,000 for the assumption of working capital.
The cash purchase price was funded by borrowings under the company’s new $300 million amended credit facility.
Red Robin also assumed management of the remaining 2 restaurant locations owned by Top Robin Ventures and complete their acquisition when it finalizes acceptable real-estate lease terms and liquor license transfers. The total purchase price will be $47.5 million for all 17 existing restaurants.
Red Robin also plans to buy another restaurant under construction in Fresno, Calif., when it opens in July.
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Red Robin Purchases California Franchises
June 27, 2007 by Cris | 0 Comments
In Franchise Ideas / Opportunities, Franchises, Restaurants
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