Buffalo Wild Wings, Inc., today announced that it has reached an agreement to acquire certain leases and other assets of up to eight 'Don Pablo's Mexican Restaurant' locations from Avado Brands, Inc. and its related companies. Buffalo Wild Wings, Inc. agreed to pay, in the aggregate, approximately $1,200,000 in cash for the lease rights and other assets.
The eight Don Pablo’s Mexican Restaurants are located in metropolitan areas of Illinois, Minnesota, New York, Ohio, Texas, and Virginia. The locations range in size from 6,500-9,800 square feet. Buffalo Wild Wings, Inc. anticipates the locations will be renovated and reopened as Buffalo Wild Wings Grill and Bar restaurants, and three of the restaurants will be relocations of existing Buffalo Wild Wings restaurants.
The Avado Brands, Inc. entities have filed a Chapter 11 bankruptcy petition in Delaware and the purchase and sale of these assets will be subject to both bankruptcy court approval and satisfactory completion of due diligence before January 31, 2008. It is anticipated that the transaction would close sometime in the first quarter of 2008.
About the Company
Buffalo Wild Wings, Inc., founded in 1982 and headquartered in Minneapolis, Minnesota, is a growing owner, operator and franchisor of restaurants featuring a variety of boldly-flavored, made-to-order menu items including Buffalo-style chicken wings spun in one of 14 signature sauces. Buffalo Wild Wings is an inviting neighborhood destination with widespread appeal and is the recipient of dozens of “Best Wings” and “Best Sports Bar” awards from across the country. There are currently 489 Buffalo Wild Wings locations across 37 states.