Bob Evans Restaurants Announces Completion of Acquisition by Golden Gate Capital
May 01 2017 - 9:15AM
Business Wire
Bob Evans Restaurants Well-Positioned for
Continued Growth Under New Ownership
Bob Evans Restaurants (“Bob Evans” or “the Company”) today
announced the successful completion of the Company’s previously
announced acquisition by an affiliate of Golden Gate Capital from
Bob Evans Farms, Inc. (NASDAQ:BOBE). Chief Executive Officer Saed
Mohseni will continue to lead the Company, which will remain
headquartered in the greater Columbus, Ohio area. The Company owns
and operates 523 restaurant locations.
Josh Cohen, a Managing Director at Golden Gate Capital, said,
“Bob Evans Restaurants is exactly the type of business in which we
seek to invest – one with a treasured brand, deep customer loyalty
and a talented leadership team. We have long been admirers of the
sense of community that Bob Evans Restaurants has fostered among
its guests for nearly 70 years, and we are excited for the
opportunity to partner with Saed and the Bob Evans management team
to build on that legacy as the Company enters its next phase of
growth.”
Mr. Mohseni said, “I am extremely proud of the dedication and
enthusiasm that the Bob Evans Restaurants team has shown in
creating highly satisfied guests. We are excited to combine our
strengths with the extensive industry experience and resources of
the Golden Gate Capital team as we build on the rich heritage of
our founder, Bob Evans. I look forward to working closely with
Golden Gate Capital as we continue to provide our guests with the
warm hospitality and farm-fresh quality that are the hallmarks of
every Bob Evans Restaurants meal.”
Neale Attenborough, an Operating Partner at Golden Gate Capital,
said, “We are excited to partner with Saed and his team to
accelerate the Company's strategic initiatives and help Bob
Evans Restaurants increase their momentum. We have every
confidence that as a standalone company, Bob Evans Restaurants will
be laser focused on driving the business to
thrive in the family dining space and remain a
beloved destination for its guests.”
About Bob Evans Restaurants
Bob Evans Restaurants is a chain of family dining restaurants
founded and headquartered in Columbus, Ohio. The company owns and
operates 523 family restaurants in 18 states, primarily in the
Midwest, mid-Atlantic and Southeast regions of the United States.
Bob Evans believed in treating strangers like friends and friends
like family; and those principles are alive today at every Bob
Evans Restaurant. Bob Evans Restaurants is focused on providing
quality food and hospitality to every guest at every meal, each and
every day. For more information about Bob Evans Restaurants, visit
www.bobevans.com.
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity
investment firm with over $15 billion of capital under management.
The principals of Golden Gate Capital have a long and successful
history of investing across a wide range of industries and
transaction types, including going-privates, corporate
divestitures, and recapitalizations, as well as debt and public
equity investments. Representative restaurant/retail investments
sponsored by Golden Gate Capital include Red Lobster, California
Pizza Kitchen, On The Border Mexican Grill & Cantina, Eddie
Bauer, Express, Pacific Sunwear and Zales.
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version on businesswire.com: http://www.businesswire.com/news/home/20170501005640/en/
Bob Evans RestaurantsHinda MitchellInspire PR
Grouphinda@inspireprgroup.com(614) 537-8926orGolden Gate
CapitalJenny Gore / Alyssa LinnSard Verbinnen & Co(312)
895-4700 / (310) 201-2040
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