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The private-equity firm is paying $8 per share in an all-cash deal valued at $650 million.
The third-party service also becomes the exclusive delivery partner of Maggiano’s.
Three restaurant companies are interested in buying all or part of the struggling Double Eagle Steakhouse parent, according to a media report.
The restaurant company, which operates the Double Eagle steakhouse chain and other concepts, expects the move to save it $3 million this year.
The restaurant company, which operates the Double Eagle steakhouse chain and other concepts, is still conducting a strategic review with an eye toward a possible sale.
Get Top 500 data: sales, units and YOY change, average unit volume, and company/franchise units, as well as Technomic’s analysis, growth forecast and more.
The restaurant operator, still eyeing a possible sale, saw same-store sales growth of just 0.1% in Q4.
The deal ends the restaurant company’s “poison pill” plan as it continues to explore strategic options.
RB’s The Bottom Line takes a look at the companies currently seeking buyers, and a few that might actually sell.
Bad weather put a major crimp in al fresco dining in recent months.