Travel & Entertainment M&A » By The Online Investor Staff, updated Sun., Jan. 29, 5:16 PM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
| This Slide: #73 of 87 |
Slide #73. Luby's, Inc. — Membership Units of Paradise Restaurants Group LLC
Acquirer:
Luby's, Inc. (LUB)
Acquiree:
Membership Units of Paradise Restaurants Group LLC
Details:
Luby's, Inc., owner of Luby's Cafeterias and Fuddruckers brands, today announced that it closed on the purchase all of the Membership Units of Paradise Restaurants Group LLC, and certain of their affiliates (collectively known as, "Cheeseburger in Paradise") through a wholly-owned subsidiary for approximately $11 million in cash plus customary working capital adjustments. The purchase was funded primarily from drawing on Luby's existing credit facility. Luby's is now the operator of 23 Cheeseburger in Paradise full-service restaurant locations that span 14 states.
Luby's is in the process of liquidating and dissolving its business.
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