GREENWOOD VILLAGE Colo. Red Robin Gourmet Burgers, Inc., the 349-unit casual dining chain based here, has agreed to buy 17 franchised restaurants in California for approximately $47.5 million. The restaurants, which generated $56.3 million in revenue in 2006, are owned by Top Robin Ventures Inc. of Fresno and Morite of California.In a signed letter of intent to buy the franchisees’ assets, Red Robin also agreed to pay up to an additional $3 million if the units achieve certain 2007 ...
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Contact: Desiree Torres Desiree.Torres@penton.com