Good Times Acquires 2 Franchised Restaurants In Denver

Black Enterprise:

Good Times Restaurants has acquired 2 franchised restaurants in Denver from Ceda Enterprises for a total consideration of $1.35 million.

The underlying land on 1 of the restaurants was included in the purchase and, with the building, was simultaneously sold in a sale leaseback transaction. The purchase was funded through a combination of cash, elimination of notes receivable from the franchisee and net proceeds of approximately $863,000 from the sale leaseback transaction.