SAN FRANCISCO, Feb. 22, 2017 /PRNewswire/ -- Marcato
Capital Management LP ("Marcato"), a San
Francisco-based investment manager which manages funds that
beneficially own approximately 5.6% of the outstanding common
shares of Buffalo Wild Wings, Inc. (NASDAQ: BWLD) ("Buffalo Wild
Wings" or the "Company"), today released a detailed presentation to
Buffalo Wild Wings' shareholders highlighting Buffalo Wild Wings'
long history of overpromising and under-delivering.
The presentation is available here.
Mick McGuire, Managing Partner of
Marcato, said: "Buffalo Wild Wings' inability to meet its stated
financial and operational objectives across many high-priority
initiatives is deeply troubling. Moreover, the current Board's
persistent unwillingness to hold management accountable for these
demonstrable failures, unfulfilled promises, and missed
expectations necessitates the need for immediate change.
Buffalo Wilds Wings shareholders deserve a board comprised of
directors with the relevant restaurant experience and conviction to
exercise much needed oversight and accountability."
We encourage all BWLD shareholders to visit
www.WinningAtWildWings.com to review the presentation and
additional information about Marcato's investment in Buffalo Wild
Wings.
CERTAIN INFORMATION CONCERNING THE PARTICIPANTS
Marcato International Master Fund, Ltd. ("Marcato") and the
other Participants (as defined below) intend to file a preliminary
proxy statement and accompanying proxy card with the Securities and
Exchange Commission (the "SEC") to be used to solicit proxies for,
among other matters, the election of its slate of director nominees
at the 2017 annual shareholders meeting of Buffalo Wild Wings,
Inc., a Minnesota corporation
("BWW").
The participants in the proxy solicitation are Marcato, Marcato
Capital Management LP, Emil Lee
Sanders, Richard T. McGuire
III, Sam Rovit and
Scott O. Bergren (collectively, the
"Participants").
MARCATO STRONGLY ADVISES ALL SHAREHOLDERS OF BWW TO READ THE
PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY
MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEBSITE AT
WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY
SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT
CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE
DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR, INNISFREE M&A
INCORPORATED, TOLL-FREE AT (888) 750-5834 (BANKS AND BROKERS MAY
CALL COLLECT AT (212) 750-5833).
As of the date hereof, Marcato directly owns 950,000 shares of
common stock, no par value, of BWW (the "Common Stock"),
representing approximately 5.2% of the outstanding shares of Common
Stock.
In addition, Marcato Capital Management LP, as the investment
manager of Marcato, may be deemed to have the shared power to vote
or direct the vote of (and the shared power to dispose or direct
the disposition of) the shares of Common Stock held by Marcato and,
therefore, may be deemed to be the beneficial owner of such
shares. By virtue of Mr. McGuire's position as the managing
partner of Marcato Capital Management LP, Mr. McGuire may be deemed
to have the shared power to vote or direct the vote of (and the
shared power to dispose or direct the disposition of) the shares of
Common Stock held by Marcato and, therefore, Mr. McGuire may be
deemed to be the beneficial owner of such shares.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/marcato-releases-investor-presentation-to-buffalo-wild-wings-shareholders-300411196.html
SOURCE Marcato Capital Management LP