They dont mention the deal as being accrective to earnings which means they will not be
they arent making much, if any, money.
Luby's, Inc. (the "Company") today announced that it entered into a Membership Unit(s) Sale And Purchase Agreement, dated November 21, 2012, (the "Agreement") to purchase all of the Membership Units held by High Tides, LLC, Ticket to Paradise, LLC, and Open Water Holdings, LLC in Paradise Restaurants Group LLC, and certain of their affiliates (collectively, "Cheeseburger in Paradise") for approximately $9.25 million of cash plus customary reimbursements for cash-on-hand, inventory, and accounts receivable. The Company will also pay Cheeseburger in Paradise an additional $1.75 million if certain objectives are achieved. The Company will fund the purchase from cash and its credit facility.
The purchase will include 23 Cheeseburger in Paradise locations in 14 states.