News

Buffalo Wild Wings to acquire Las Vegas restaurants

May 17, 2007

MINNEAPOLIS — Buffalo Wild Wings Inc. has announced a right of first refusal to acquire the assets of nine Buffalo Wild Wings franchised restaurants in the Las Vegas region. The company also announced a two-for-one stock split in the form of a 100 percent stock dividend to its shareholders.

The company expects the acquisition, if completed, to close in the fourth quarter of 2007 and, with the exception of one-time transaction costs, to be accretive to earnings. The restaurants are currently operated by Bill Welter, whom the company intends to retain as a consultant after closing.

Average weekly sales for the eight existing restaurants over the last twelve months, including food, beverage, and gaming revenues, exceeded $55,000. The company anticipates funding the purchase price of approximately $26 million with available cash and marketable securities.

Two-for-One Stock Split

Buffalo Wild Wings also announced that its Board of Directors declared a two-for-one stock split of its outstanding shares of Common Stock. The stock split will be effected in the form of a 100 percent stock dividend to shareholders of record as of the close of business June 1, 2007. The company expects that its transfer agent will issue the additional shares on or about June 15.

The company's stock has more than tripled since the time of its initial public offering when it closed at $22.95 on the first day of public trading on November 21, 2003. On May 18, the closing price of Buffalo Wild Wings' stock was $79.17.