J. Alexander’s Holdings, Inc. Becomes Public Company after Spin-Off from Fidelity National Financial
September 29 2015 - 9:10AM
Business Wire
Restaurant Company Begins Trading On NYSE Under Symbol JAX
J. Alexander’s Holdings, Inc. (NYSE: JAX), owner and
operator of three complementary upscale dining restaurant concepts,
announced today the successful completion of its spin-off from
Fidelity National Financial (FNF) into an independent
publicly-traded company. Effective today, shares of J. Alexander’s
Holdings, Inc. common stock have begun trading “regular way” on The
New York Stock Exchange under the ticker symbol “JAX.”
“For more than 20 years, the J. Alexander’s team has provided
its guests quality dining with a contemporary American menu and
high levels of customer service in restaurants with an attractive
ambiance,” said Lonnie J. Stout II, Chairman, President and Chief
Executive Officer of J. Alexander’s Holdings, Inc. “Our business
plan has evolved to include a collection of restaurant concepts –
J. Alexander’s, Stoney River Steakhouse and Grill, and Redlands
Grill. With these concepts, we are well-positioned to continue to
scale and grow our overall restaurant business in an efficient
manner in urban and affluent suburban areas.”
J. Alexander’s Holdings, Inc., which presently has 41
restaurants across 14 states, recently signed leases to develop two
new J. Alexander’s restaurants, one in Lexington, KY and one in
Raleigh, NC, and a new Stoney River Steakhouse and Grill in
Germantown, TN near Memphis. Stout said the Company also has begun
to transition 12 J. Alexander’s to Redlands Grill restaurants, a
third concept in the award-winning, upscale collection owned and
operated by J. Alexander’s Holdings, Inc.
“We are excited with the opportunities these restaurants bring
to J. Alexander’s Holdings,” Stout continued. “We want each of our
restaurants to be perceived by our guests as a locally-managed,
stand-alone dining experience. This differentiation permits us to
successfully operate each of our concepts in the same geographic
market.
“With the successful completion of this spin-off transaction, we
believe that we can more effectively execute on our strategic plans
for organic growth. We are confident about the new opportunities
ahead in the next chapter of our journey,” Stout added.
About J. Alexander’s Holdings, Inc.
J. Alexander’s Holdings, Inc. owns and operates three
complementary restaurant concepts: J. Alexander’s, Redlands Grill
and Stoney River Steakhouse and Grill. J. Alexander’s, founded in
1991, offers guests a quality upscale dining experience focusing on
made-from-scratch menu items and featuring prime rib of beef,
hardwood-grilled steaks, seafood and chicken, pasta, salads, soups
and assorted sandwiches, appetizers and desserts. Redlands Grill,
introduced in the first quarter of 2015, offers a high quality
sushi program, a signature coffee-cured ribeye, and
made-from-scratch flatbreads. Stoney River, founded in 1996,
features an emphasis on a high quality steakhouse menu, but also
includes house specialties ranging from pasta and chicken to shrimp
and salmon. All three concepts offer signature cocktails and broad
wine lists.
J. Alexander’s Holdings, Inc. has its headquarters in Nashville,
TN.
Forward-Looking Statements
This press release, issued by J. Alexander’s Holdings, Inc. (the
Company), contains forward‐looking statements, which include all
statements that do not relate solely to historical or current
facts, including statements regarding our expectations, intentions
or strategies regarding the future. These forward‐looking
statements are based on management's beliefs, as well as
assumptions made by, and information currently available to,
management. Because such statements are based on expectations as to
future financial and operating results and are not statements of
fact, actual results may differ materially from those projected and
are subject to a number of known and unknown risks and
uncertainties, including the Company’s ability to maintain
satisfactory guest count levels and maintain or increase sales and
operating margins in its restaurants under varying economic
conditions; the effect of higher commodity prices, unemployment and
other economic factors on consumer demand; increases in food input
costs or product shortages and the Company’s response to them; the
number and timing of new restaurant openings and the Company’s
ability to operate them profitably; competition within the casual
dining industry; as well as other risks and uncertainties described
under the headings "Forward-Looking Statements," "Risk Factors" and
other sections of the Company’s Registration Statement on Form 10
filed with the Securities and Exchange Commission. The Company
undertakes no obligation to update any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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J. Alexander’s Holdings, Inc.Mark Parkey, 615-269-1900
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