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Article: Brinker International Announces Agreement to Sell Majority Interest in Romano's Macaroni Grill(R) to Golden Gate Capital.
- Article from:
- PR Newswire
- Article date:
- August 18, 2008
CopyrightCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS, Aug. 18 /PRNewswire-FirstCall/ -- Brinker International, Inc. announced today that it has entered into a purchase agreement with Mac Acquisition LLC, an affiliate of Golden Gate Capital, for the sale of a majority interest in Romano's Macaroni Grill. Golden Gate Capital is a San Francisco-based private equity firm.
Per terms of the agreement, Brinker will receive $131.5 million in cash, of which $6 million will be contributed to Mac Acquisition LLC. Brinker will retain a 19.9 percent continuing ownership interest in the brand. The transaction is expected to close by the end of the calendar year upon completion of customary closing procedures.
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