Red Robin Enlists The Cypress Group to Drive Refranchising Efforts
March 21 2019 - 9:00AM
Business Wire
Red Robin Gourmet Burgers, Inc., (NASDAQ: RRGB), a full-service
restaurant chain serving an innovative selection of high-quality
gourmet burgers in a family-friendly atmosphere, today announced
that it has retained The Cypress Group, a leading restaurant and
franchise investment banking firm, (“Cypress”) to manage the
Company’s previously announced refranchising initiative.
Cypress has more than 25 years of multi-unit M&A and
corporate refranchising experience in the restaurant industry,
including engagements with a number of major casual dining
brands.
“Strategically refining our real estate portfolio and pursuing
development opportunities with high-quality franchisees is a key
component of future growth for Red Robin. We are excited to partner
with The Cypress Group to facilitate our franchising efforts and
leverage the Cypress team’s extensive deal experience and vast
network of potential franchise partners,” said Denny Marie Post,
Red Robin Gourmet Burgers Inc. president and chief executive
officer. “We will be working with The Cypress Group to determine
which markets may make sense for strategic franchising in addition
to the approximately 100 existing Red Robin locations we have
previously identified. We look forward to our collaboration with
The Cypress Group to help us grow the community of franchise
partners who share our passion for the Red Robin brand and are
equally excited about our vision to serve generations of families
to come with our craveable Gourmet Burgers.”
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 570 Red Robin
restaurants across the United States and Canada,
including locations operating under franchise agreements. Red
Robin… YUMMM®! Connect with Red Robin on Facebook, Instagram, and
Twitter.
Forward-Looking Statements
Forward-looking statements in this press release regarding the
Company’s refranchising efforts and its goal for its franchise mix
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. Except as
required by law, the Company undertakes no obligation to update
such statements to reflect events or circumstances arising after
such date, and cautions 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: the
effectiveness of the Company’s strategic initiatives, including the
effectiveness of the Company’s affordability, service improvement,
technology, and off-site initiatives to drive traffic and sales;
the ability to increase labor productivity through alternative
labor models, and to train the Company's workforce for service
execution complexities related to growth of multiple revenue
streams in the restaurant; the success of the Company's
refranchising efforts; 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190321005358/en/
For media relations questions contact:Brian Farley, Coyne
PR(973) 588-2000
For investor relations questions contact:PJ AdlerRed
Robin Investor Relations303-846-5040
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