Buffalo Wild Wings, Inc. (Nasdaq: BWLD) today announced its intent to acquire 15 franchised units located in Ohio and South Carolina from a franchisee group.
The Company expects the acquisition, if completed, to close before the end of this year. These restaurants are currently operated by franchisees David Fisher, Eric Lundgren, John Slaughenhaupt, and Brad Haber. Buffalo Wild Wings, Inc. anticipates funding the purchase price with available cash.
Sally Smith, President and Chief Executive Officer, commented, "David, Eric, John, and Brad have done a wonderful job growing the Buffalo Wild Wings® brand in the Dayton area, as well as introducing Buffalo Wild Wings in Columbia, South Carolina. The strong performance of this group of restaurants presented a very attractive acquisition opportunity for us and we look forward to welcoming them into our company-owned operations.”
David Fisher added, "We are deeply appreciative to have had the opportunity to develop the Buffalo Wild Wings brand and to have been a part of such a strong organization. It is bittersweet to leave the system as we pursue new challenges, but we leave with very positive relationships with the company and are pleased that our restaurant team members will now be part of a national organization with its resources and career opportunities.”About the Company Buffalo Wild Wings, Inc., founded in 1982 and headquartered in Minneapolis, Minnesota, is a growing owner, operator and franchisor of Buffalo Wild Wings Grill & Bar ® restaurants featuring a variety of boldly-flavored, made-to-order menu items including its namesake Buffalo, New York-style chicken wings. The Buffalo Wild Wings' menu specializes in 18 mouth-watering signature sauces and seasonings with flavor sensations ranging from Sweet BBQ ™ to Blazin' ®. Guests enjoy a welcoming neighborhood atmosphere that includes an extensive multi-media system for watching their favorite sporting events. Buffalo Wild Wings is the recipient of hundreds of "Best Wings" and "Best Sports Bar" awards from across the country. There are currently more than 800 Buffalo Wild Wings locations across 46 states in the United States, as well as in Canada.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts