Red Robin Acquires 13 Franchised Restaurants in Texas
March 21 2016 - 4:05PM
Business Wire
Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB), a casual dining
restaurant chain focused on serving an innovative selection of
high-quality gourmet burgers in a family-friendly atmosphere, today
announced it has completed the acquisition of 13 Red
Robin® franchised restaurants in Texas, from Cowboy Red, L.C.,
Cowgirl Red, LLC, and Texas Red Real Estate, Ltd. and its
affiliates, and Robert Y Reynolds and Carolyn Frost Keenan.
The 13 Texas restaurants are located in the trade areas
of Houston (7), Dallas (2), Lubbock (1), Austin (1), Abilene (1)
and Amarillo (1).
“This acquisition supports our strategy to expand in markets
such as Texas which provide us strong growth prospects. We would
also like to welcome almost 800 new members to the Red Robin
corporate family and offer them an opportunity for continued growth
as well,” said Steve Carley, Red Robin Gourmet Burgers, Inc. chief
executive officer.
The Company will provide additional information with regards to
this transaction when it reports results of the fiscal first
quarter ended April 17, 2016.
About Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB)
Red Robin Gourmet Burgers, Inc. (www.redrobin.com), a casual dining restaurant
chain founded in 1969 that operates through its wholly-owned
subsidiary, Red Robin International, Inc., and under the trade
name Red Robin Gourmet Burgers and Brews, is the Gourmet
Burger Authority™, famous for serving more than two dozen
craveable, high-quality burgers with Bottomless Steak
Fries® in a fun environment welcoming to guests of all
ages. Whether a family dining with kids, adults grabbing a
drink at the bar, or teens enjoying a meal, Red Robin offers an
unparalleled experience for its guests. In addition to its
many burger offerings, Red Robin serves a wide variety of salads,
soups, appetizers, entrees, desserts and signature
beverages. Red Robin offers a variety of options behind the
bar, including its extensive selection of local and regional beers,
and innovative adult beer shakes and cocktails, earning the
restaurant a VIBE Vista Award for Best Beer Program in a
Multi-Unit Chain Restaurant. There are more than 530 Red Robin
restaurants across the United States and Canada, including Red
Robin Burger Works® locations and those operating under
franchise agreements. Red Robin… YUMMM®! Connect with Red Robin on
Facebook, Instagram, and Twitter.
About Cowboy Red, L.C.Cowgirl Red, LLC
Based in Houston, the companies are privately-held franchisees
of Red Robin Gourmet Burgers, Inc. founded in 1999.
Forward-Looking Statements
Forward-looking statements in this press release regarding our
expectations, plans, strategy, and all other statements that are
not historical facts, are made under the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. These
statements are based on assumptions believed by the Company to be
reasonable and speak only as of the date on which such statements
are made. We undertake no obligation to update such statements to
reflect events or circumstances arising after such date, and we
caution investors not to place undue reliance on any such
forward-looking statements. Forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those described in the statements based on a number
of factors, including but not limited to the following: our ability
to expand in growth markets, our ability to integrate the acquired
restaurants and operate them as expected; our ability to
successfully integrate personnel at the acquired restaurants;
effectiveness of our management strategies and decisions; and other
risk factors described from time to time in the Company’s Form
10-K, Form 10-Q, and Form 8-K reports (including all amendments to
those reports) filed with the U.S. Securities and Exchange
Commission.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160321006277/en/
For media relations questions:Coyne PRJennifer DeNick,
973-588-2000orFor investor relations questions:Red Robin
Gourmet Burgers, Inc.Stuart Brown, 303-846-6000Chief Financial
Officer
Red Robin Gourmet Burgers (NASDAQ:RRGB)
Historical Stock Chart
From Aug 2024 to Sep 2024
Red Robin Gourmet Burgers (NASDAQ:RRGB)
Historical Stock Chart
From Sep 2023 to Sep 2024