RED ROBIN GOURMET BURGERS, INC. ANNOUNCES REFRANCHISING AGREEMENT TO SUPPORT "FIRST CHOICE PLAN"
Red Robin announced the sale of 30 corporate-owned restaurants in Washington and Western Idaho to Evergreen Dining LLC for $23.5 million in cash. The transaction supports the company's 'First Choice Plan' turnaround strategy, with proceeds primarily directed toward paying down outstanding debt and strengthening the balance sheet. Evergreen Dining, an experienced multi-unit operator with over 100 restaurants, will continue operating the locations under the Red Robin brand.
Key figures
- Deal Value Usd
- 23500000
- Units sold
- 30
- Total locations
- nearly 500
AI analysis
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