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acquisitions

Financing

J. Alexander’s rejects Ancora’s purchase offer

The board of directors said that the $11.75-per-share proposal “dramatically undervalues the company.”

Financing

Another activist investor wants J. Alexander’s to be sold

Mario Gabelli puts his support behind a sale, saying that it’s too small to be public and hasn’t performed well, says RB’s The Bottom Line.

The Canadian brand operator will pay $6.45 per share for the take-and-bake pizza chain.

Large shareholder Ancora Advisors proposed paying $11.75 per share, saying the company would be better off private.

The company has terminated the operator’s franchise agreements for 37 stores in Texas, one of which was the subject of a video featuring rats in the kitchen.

CEC Entertainment, which also owns Peter Piper Pizza, will return to the public markets after its merger with Leo Holdings.

Wellspring Capital is now the owner of Lucky Strike.

The Atlanta-based operator, which also owns Popeyes locations, added a third brand and closed in on 500 restaurants.

The Dallas-based movie theater and dining chain will use the funds from TowerBrook Capital Partners to speed growth.

The burger giant is making a $3.7 million minority investment in the New Zealand-based company.

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