Stock Monitor: Habit Restaurants Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 12, 2018 / Active-Investors.com has just released a free research report on Bravo Brio Restaurant Group, Inc. (NASDAQ: BBRG). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BBRG as the Company's latest news hit the wire. On March 08, 2018, the Company announced a merger agreement, pursuant to which one of the affiliates of GP Investments, Ltd, Spice Private Equity Ltd ("Spice"), will acquire Bravo Brio Restaurant Group for a total enterprise value of approximately $100 million. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Bravo Brio Restaurant Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Details of the Merger Agreement
- The transaction will be funded by Spice, along with certain third-party financing sources.
- As per the agreement terms, BBRG's shareholders will receive $4.05 per share in cash, representing a premium of about 37% over the volume weighted average price of the Company's shares for the 90-day period immediately preceding the date of the agreement.
- Upon closing of the transaction, BBRG will continue to run as an independent company and remain based in Columbus, Ohio.
- The merger agreement has been unanimously approved by BBRG's Board of Directors. The transaction, expected to be completed by the end of Q2 2018, is subject to shareholder's approval and other customary closing conditions.
- Dechert LLP served as legal advisor and Piper Jaffray & Co. served as financial advisor to BBRG. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to GP.
Acquisition is Likely to Maximize value for BBRG's Shareholders
Commenting on the acquisition, Alton F. (Rick) Doody III, Chairman of the Board of BBRG, stated that the Company's Board of Directors, in consultation with outside advisors, has evaluated all options available to BBRG, and BBRG is confident that this transaction maximizes value for its shareholders. Alton added that GP has a distinguished track record of being an active and valuable partner to its invested companies through its operationally-oriented approach, which BBRG expects will greatly enhance its ability to maximize the potential of the Bravo Brio brands nationwide.
GP will Take a Long-Term View in Bravo Brio's Future Growth and Expansion
Antonio Bonchristiano, Chief Executive Officer of GP, stated that Bravo Brio has two best-in-class Italian restaurant brands, an enduring culture, and a team committed to delivering exceptional dining experiences to its guests. Antonio added that as a private entity, GP will have greater flexibility to take a long-term view as it invests in Bravo Brio's future growth and expansion, which will drive rewards for the Company and GP's investors.
About Bravo Brio Restaurant Group, Inc.
Founded in 1992 and headquartered in in Columbus, Ohio, Bravo Brio Restaurant is a leading owner and operator of two distinct Italian restaurant brands, BRAVO! Cucina Italiana ("BRAVO!") and BRIO Tuscan Grille ("BRIO"). The Company is focused on a highly satisfied Guest experience through exceptional service and an amazing dining experience.
About GP Investments, Ltd
Established in 1993, GP Investments is a leading alternative investment firm. Since its founding, the firm has raised $5 billion from investors worldwide and has completed investments in more than 50 companies and has executed over 20 equity capital market transactions. GP Investments currently has offices in São Paulo, New York, London, and Bermuda.
About Spice Private Equity Ltd
Spice Private Equity is a Swiss investment company focused on private equity investments. Spice Private Equity Ltd has over a decade of operating history and is managed by GP Advisors, a subsidiary of GP Investments.
Stock Performance Snapshot
March 09, 2018 - At Friday's closing bell, Bravo Brio Restaurant's stock marginally fell 0.62%, ending the trading session at $4.00.
Volume traded for the day: 578.34 thousand shares, which was above the 3-month average volume of 126.05 thousand shares.
Stock performance in the last month – up 15.94%; previous three-month period – up 81.82%; past six-month period – up 63.27%; and year-to-date - up 60.00%
After last Friday's close, Bravo Brio Restaurant's market cap was at $61.20 million.
The stock is part of the Services sector, categorized under the Restaurants industry. This sector was up 1.6% at the end of the session.
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