Bravo Brio Restaurant Group Shareholders Approve Merger with Spice Private Equity, an affiliate of GP Investments
May 22 2018 - 4:05PM
Bravo Brio Restaurant Group, Inc. (NASDAQ:BBRG) (“BBRG” or the
“Company”), owner and operator of the BRAVO! Cucina Italiana and
BRIO Tuscan Grille restaurant concepts, announced that at a Special
Meeting of Shareholders held earlier today, the Company’s
shareholders overwhelmingly approved the merger agreement pursuant
to which a subsidiary of Spice Private Equity Ltd. (“Spice”), a
Swiss investment company focused on private equity investments that
is controlled by GP Investments, Ltd. (“GP”), a leading private
equity and alternative investment firm, will acquire the Company.
Under the terms of the merger agreement dated
March 7, 2018, BBRG’s shareholders will receive $4.05 per share in
cash, without interest and less any applicable withholding taxes,
representing an enterprise value of approximately $100 million.
The transaction is expected to close on May 24,
2018, at which time BBRG’s common shares will cease trading on the
NASDAQ.
About Bravo Brio Restaurant Group,
Inc.
Bravo Brio Restaurant Group, Inc. is a leading
owner and operator of two distinct Italian restaurant brands,
BRAVO! Cucina Italiana and BRIO Tuscan Grille. BBRG has positioned
its brands as multifaceted culinary destinations that deliver the
ambiance, design elements and food quality reminiscent of fine
dining restaurants at a value typically offered by casual dining
establishments, a combination known as the upscale affordable
dining segment. Each of BBRG's brands provides its guests with a
fine dining experience and value by serving affordable cuisine
prepared using fresh flavorful ingredients and authentic Italian
cooking methods, combined with attentive service in an attractive,
lively atmosphere. BBRG strives to be the best Italian restaurant
company in America and is focused on providing its guests an
excellent dining experience through consistency of execution.
About GP Investments, Ltd.
GP Investments is a leading alternative
investment firm. Since its founding in 1993, GP Investments has
raised $5 billion from investors worldwide and has completed
investments in more than 50 companies and has executed over 20
equity capital market transactions. GP Investments has a consistent
and disciplined investment strategy targeting established companies
that have the potential to grow and be more efficient and
profitable by becoming leaders in their industries. Since 2006, GP
Investments has been listed on the Brazilian Stock Exchange (B3
S.A. – Brasil, Bolsa, Balcão) under the ticker symbol GPIV33 and on
the Luxembourg Stock Exchange. The firm currently has offices in
São Paulo, New York, London and Bermuda. For more information,
visit www.gp-investments.com.
About Spice Private Equity
Ltd.
Spice Private Equity Ltd. is a Swiss investment
company focused on private equity investments. Spice Private Equity
Ltd. has over a decade of operating history and is managed by GP
Advisors, a subsidiary of GP. The company is listed on the SIX
Swiss Exchange under the ticker symbol SPCE. For more information,
visit www.spice-private-equity.com.
Contacts for BBRG:Investor
RelationsRaphael Gross / Dara Dierks(203) 682-8253 / (646)
277-1212
Media RelationsJake F. Malcynsky(203) 682-8375
Contacts for GP Investments:Investor
RelationsJoel La Banca Neto+55 11 3556-5505
Media RelationsBrooke Flohr(646) 805-2823
Contact for Spice:Investor & Media
RelationsRodrigo Boscolo+41 41 710 70 60
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