RED ROBIN GOURMET BURGERS INC (RRGB) Form 8-K — May 28, 2026
Red Robin Gourmet Burgers Inc. (RRGB) entered into an Asset Purchase Agreement to sell 30 company-owned restaurants in Washington and Idaho to Evergreen Dining LLC for $23.5 million in cash. The transaction is part of a strategic refranchising initiative, with the buyer assuming certain liabilities and operating the locations as franchised Red Robin restaurants under long-term agreements. The company intends to use the net proceeds from the sale to reduce outstanding indebtedness, improving its balance sheet.
Key figures
- Deal Value Usd
- 23500000
- Restaurants sold
- 30
- Seller liability cap
- 3000000
- Earnest money deposit
- 50000
- Indemnification basket
- 200000
- Estimated inventory per restaurant
- 25000
- Petty cash estimate per restaurant
- 2000
Price after filing
Close on the filing date to close N calendar days later (from $4.81). Historical, not a forecast.
AI analysis
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