MINNEAPOLIS Buffalo Wild Wings Inc. said it plans to purchase eight Don Pablo’s Mexican Restaurants from the bankrupt Avado Brands Inc. for around $1.2 million in cash. The wings specialist said in a statement on Thursday that it would likely renovate and reopen the units as Buffalo Wild Wings Grill and Bar restaurants.
The $1.2 million price tag includes lease rights and other assets of the eight Don Pablo's restaurants, which are located in Illinois, Minnesota, New York, Ohio, Texas, and Virginia. The deal is subject to bankruptcy court approval.
Avado Brands, which is also parent of the Hops Grillhouse and Brewery concept, filed for Chapter 11 bankruptcy protection in September. The company said late last month that it had already agreed to sell 83 of its 111 Don Pablo's and Hops restaurants in seven deals, including one for the corporate headquarters and 67 restaurants to an affiliate of its primary bankruptcy lender, DDJ Capital Management LLC.
At the time, an Avado official noted that the company was required by its agreement with the bankruptcy court to sell all of its restaurants.
