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Buffets, Inc.In November, 2006 Buffets, Inc. announced the merger of Buffets and Ryan's Restaurant Group, Inc. (formerly Nasdaq: RYAN) in a cash transaction valued at approximately $833 million. Ryan's shareholders received $ 16.25 in cash for each common share they owned. 
The combined company, called Buffets, Inc. and headquartered in Eagan, Minnesota, is the nation's largest buffet restaurant chain and one of the five largest companies in the casual and mid-scale dining segment.
It has annual revenues greater than $1.7 billion, and operates 672 restaurants in 42 states, principally under the well-respected Ryan's®, Fire Mountain®, Old Country Buffet® and HomeTown Buffet® brands. Ryan's will operate as a separate division of Buffets and will continue to be based in Greer, South Carolina. Affiliates of CI Capital Partners acquired and took private Buffets, Inc. (Nasdaq: BOCB) for $645 million in October, 2000. The buyout of Buffets was named "Public-to-Private Deal of the Year" by Buyouts newsletter. Related Links: |
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