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Buffalo Wild Wings to acquire 8 restaurant locations
December 20, 2007
MINNEAPOLIS — Buffalo Wild Wings Inc. has announced that it has reached an agreement to acquire certain leases and other assets of up to eight Don Pablo's Mexican Restaurant locations from Avado Brands Inc. and its related companies.
Buffalo Wild Wings Inc. agreed to pay, in the aggregate, approximately $1.2 million in cash for the lease rights and other assets. The eight Don Pablo's Mexican Restaurants are in metropolitan areas of Illinois, Minnesota, New York, Ohio, Texas and Virginia.
The locations range in size from 6,500 to 9,800 square feet. Buffalo Wild Wings Inc. anticipates the locations will be renovated and reopened as Buffalo Wild Wings Grill and Bar restaurants, and three of the restaurants will be relocations of existing Buffalo Wild Wings restaurants.
The Avado Brands Inc. entities have filed a Chapter 11 bankruptcy petition in Delaware and the purchase and sale of these assets will be subject to both bankruptcy court approval and satisfactory completion of due diligence before Jan. 31, 2008. It is anticipated that the transaction would close sometime in the first quarter of 2008.
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