Golden Gate Capital $565 million acquisition of Bob Evans Restaurants

Overview:

• Private equity firm Golden Gate Capital has bid to acquire Bob Evans Restaurants in a $565 million deal.
• The restaurant chain was sold by Bob Evans Farms in an effort to focus on the packaged foods core of the business.
• Golden Gate also owns restaurant chains Red Lobster and California Pizza Kitchen.
• Bob Evans Farms is still able to solicit higher offers until this February.
• The transaction is expected to close this upcoming April.

Kurt Stumpo - Journalist