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Buffalo Wild Wings completes restaurant acquisition
September 24, 2008
MINNEAPOLIS — Buffalo Wild Wings Inc. has announced the completion of the $23 million asset acquisition of nine Buffalo Wild Wings franchised restaurants in the Las Vegas area. The transaction was funded with available cash and marketable securities.
Average weekly sales for the restaurants, including net restaurant sales from food, beverage, and gaming, was approximately $53,300 for the 12 months ended June 2008, compared to average weekly sales of $54,900 during the similar period a year ago.
Comparable units will be included in the calculation of same-store sales for company-owned restaurants in the fourth quarter of 2008. The company expects the transaction to be neutral to earnings in the fourth quarter and accretive to earnings in 2009.
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