Major Buffalo Wild Wings Group Sells Itself


Diversified Restaurant Holdings Inc., the Southfield, Michigan-based restaurant group that owns 64 Buffalo Wild Wings stores in five states, announced that it will be sold to IVC Partners LLC, a New York City-based private investment firm in a deal valued at $130 million, according to the company in a press release. The all-cash deal is expected to be complete by the end of the year or early 2020. DRH’s common stockholders will receive $1.05 per share in cash. The deal also includes assuming the company’s current $96.6 million debt and transaction expenses.a

The news comes a day after Outback Steakhouse's parent company, Tampa, Florida-based  Bloomin’ Brands, said it may also put itself up for sale, according to its quarterly report. Though it has not made a firm commitment to sell, it says that a sale would be among the “strategic alternatives” it is exploring in an effort to maximize shareholder value. Comparable sales increased .2% at sales at U.S. Outback Steakhouse locations in the second quarter of this year. The company, which also owns Carrabba’s Italian Kitchen, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar, has not set a “definitive timetable” to complete this process, but “plans to proceed in a timely manner.”


Mici 1200x800 1

Mici Handcrafted Italian Signs First Franchise Deal

The brand announced it signed its first franchise deal with Black Bear Diner and Smashburger franchisees Lucas Farnham and David Doty to bring 30 Mici locations to the Phoenix market.

CaliBurger 1200x800 1

New CaliBurger Location Goes Heavy on the Tech

The latest CaliBurger restaurant is coming with a cook already in the kitchen.

- Advertisement -

- Advertisement -

- Advertisement -


- Advertisement -

- Advertisement -