Ruby Tuesday chain to be taken private in $146 million deal

Ruby Tuesday chain to be taken private in $146 million deal

Ruby Tuesday Inc (RT.N) said on Monday it would be acquired by private equity firm NRD Capital for an enterprise value of about $335 million.

NRD, an Atlanta-based private-equity firm, it is paying $2.40 a share for Ruby Tuesday, or about 21% above Friday's closing price of $1.99.

NRD Capital will assume or retire all of its debt obligations as well.

Florida man receives $37500 after cops mistake doughnut glaze for meth
Riggs-Hopkins arrested Rushing and took him into custody on the charge of possession of methamphetamine with a firearm. At that point Riggs-Hopkins "observed in plain view a rock-like substance on the floor board where his feet were".

(+) LBIX, (+31.4%) Reports non-GAAP fiscal Q2 net loss of C$0.25 per share, paring a C$0.33 per share adjusted net loss during the same quarter previous year. Ruby Tuesday engages in the ownership, development, operation, and franchise of casual dining restaurants under the Ruby Tuesday name in the United States and internationally.

Ruby Tuesday, which has about 600 restaurants, including one in Pueblo, said in March that it was considering a buyout.

The acquisition is expected to be completed during the first quarter of 2018. The company reported sales were down 4 percent at established locations.

Predicted Man City line up to face Napoli in the Champions League
Since I have been getting those negative comments, I realise the best thing to do is not to look at it so it won't affect you. They are a great team", he said.

Atlanta's NRD is already in the restaurant business: It acquired Frisch's Big Boy Restaurants in 2015 and bought a majority stake in Fuzzy's Taco Shop past year.

"NRD Capital has a distinguished track record of achieving and maintaining profitable growth for restaurant concepts and will be an excellent partner to lead Ruby Tuesday going forward", Stephen Sadove, non-executive chairman of Ruby Tuesday, said in a press release.

As Eater reports, other casual dining chains such as Chili's, Applebee's, and TGI Fridays have seen revenue decline in recent years due in part to increased competition from fast-casual restaurants and delivery apps.

IBM unveils blockchain-powered Pacific payment network
Each payment is immutable once recorded, and settlement instructions are provided via smart contracts on Hyperledger Fabric.

Related News:



Most liked

Google Photos can now recognize your pets
Once rolled out in your region, you will see that your Google Photos feed now groups your pets alongside people. Google explains that these grouped photos will be found alongside grouped photos of humans.

'All signs in place' for Marcus Mariota to play Monday
Mariota, 23, was a limited participant in the team's practices this week and is a game-time decision. On Monday Night, Mariota will have wide eyes against the third worst pass Defense in the NFL.

CD Projekt Red addresses Cyberpunk 2077 and employee morale
It often requires a conscious effort to "reinvent the wheel" - even if you personally think it already works like a charm. Cyberpunk 2077 won't be released for a couple years, with PCGamesN suggesting a launch by June 2019.

Celebrity Clasico: Virat & Co hit new goals, win hearts
The visuals are a little grainy but it looks like Ziva gives Dhoni the bottle and then runs back as someone picks her up. But the All Hearts pulled away when former Chennai Super Kings batsman Anirudha Srikant scored twice too.

White House Next Week Will Declare Opioid Epidemic A National Emergency
By then, the opioid war had claimed 200,000 lives, more than three times the number of US military deaths in the Vietnam War. Congress and President Barack Obama let their guard down , which is why the Hatch-Marino law was passed and signed.

New Jersey teacher tells students to 'speak American'
According to NBC , roughly a dozen students at Cliffside Park High School were seen leaving the building just before 10 a.m. WPIX has reached out to the Cliffside Park School Superintendent for comment, but calls weren't immediately returned.

Lisa Wilkinson jumps ship in shock resignation
The network apparently increased its offer to $1.8 million, but she was adamant that she should earn equally as her colleague. Ten is set to be taken over by the American CBS network but its shares were last week declared to be worthless by KPMG.

A frost advisory is ahead as temperatures fall across MA
Temperatures dropping into the low- to mid-30s early Tuesday morning could produce frost that could damage sensitive plants. Daytime highs will struggle to climb out of the 60s Monday, and they will eventually step-ladder into the 70s by mid-week.

What's Behind Blackstone Mortgage Trust Inc Cl A (BXMT)'s Movement
Selway Asset Management decreased its stake in Fedex (FDX) by 3.9% based on its latest 2017Q2 regulatory filing with the SEC. The stock of Blackstone Mortgage Trust Inc (NYSE:BXMT) earned "Buy" rating by Keefe Bruyette & Woods on Tuesday, August 8.

'Glee' star 'cut wrists' before plea
He is yet to be sentenced for his crimes, but prosecution lawyers have recommended he serve four to seven years in prison. We're told the " Glee " star was in the bedroom of his L.A. area home on August 22 when he cut both of his wrists.

Trump Disgustingly Lies About Obama Not Calling Fallen Soldiers' Families
It's the toughest, the toughest calls I have to make are the calls where this happens, soldiers are killed . The former president has publicly described the heart-wrenching task of writing letters to the families.

Bodies found at Joshua Tree may be missing SoCal hikers
The bodies will be officially identified pending autopsies by the coroner's office, according to the Sheriff's Department. Orbeso's father, Gilbert, searched sections of the park for months with friends of the couple and authorities.

Bill signed by Gov. Brown marks milestone for nonbinary people
The Legislature's own lawyers said the bill is legally questionable and would likely violate the qualifications clause of the U.S. Jerry Brown , a Democrat, vetoed SB 169 , which was created to undercut the Trump administration's overhaul of Title IX rules.

Weah hat-trick helps US storm into quarterfinals
Weah may have had the match of the World Cup so far, but he's not the only guy on this team. Weah opened the scoring in the first half, finishing off a cross from Ayo Akinola .

Red Sox to interview Cora for manager's job
Gardenhire, who turns 60 later this month, managed the Twins for almost 13 full seasons, compiling a 1,068-1,039 record. Cora met with Red Sox president of baseball operations Dave Dombrowski in NY on the Astros' off day.