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Dine Brands Acquires Fuzzy's Taco Shop For $80M Cash

  • Dine Brands Global Inc (NYSE: DIN) has agreed to acquire Fuzzy's Taco Shop from Experiential Brands LLC, a wholly owned subsidiary of NRD Holding Company, for $80 million in cash.

  • Net of tax benefits, the purchase price is approximately $70 million. The transaction is expected to be immediately accretive to earnings.

  • Founded in 2003, Fuzzy's is a fast-casual restaurant concept serving Mexican favorites with a Baja twist. It has 138 restaurants in 18 states.

  • The brand is expected to generate approximately $230 million in systemwide sales in 2022.

  • Fuzzy's Chief Executive Officer Paul Damico will continue to drive the brand's future under the Dine Brands umbrella.

  • "It is an attractive asset with a tremendous growth trajectory and will be a complementary addition to our highly franchised portfolio," said CEO John Peyton

  • Dine Brands held $424.2 million in cash and equivalents as of September 30, 2022.

  • Price Action: DIN shares closed lower by 1.80% at $72.95 on Friday.

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