The opinions expressed by columnists are their own and do not represent our advertisers

Wednesday, January 25, 2017

Bob Evans to sell restaurants, focus on foods business

COLUMBUS, Ohio- Bob Evans Farms Inc. says it will sell all its restaurants to transition its focus exclusively into its foods business, i.e. pre-packaged and refrigerated foods.

Golden Gate Capital will acquire the restaurants for $565 million plus assumption of certain net working capital liabilities. After certain debts and expenses are paid, the net proceeds are expected to be between $475 and $485 million, the company said in a press release.

The New Albany-based company will then purchase Pineland Farms Potato Company for $115 million. The company says that price may increase up to $25 million if certain financial marks are achieved within a two-year period after closing.



Anonymous said...

Bob Evans has changed hands a number of times over the past 20-30 years. Maybe this new outfit can get them back on track. They're not bad overall, but used to be much better.
If they get the focus back to what old Bob said and did, they will be fine.

Anonymous said...

EXCELLENT!!! This restaurant is the slowest place to get a meal in Salisbury, it was quicker to close on the purchase of a vehicle at Courtesy than to get served at Bob Evans....17 empty tables and they have you wait 30 minutes before seating you. NO WONDER it was not a money maker!!!

Anonymous said...

Nice property for some biz...

Anonymous said...

I'm still waiting on hold from last week

Anonymous said...

Ate there once. That was enough for me.