The transaction splits the company in half. Bob Evans Farms food division, which makes mashed potatoes, sausage and various side dishes, will become a standalone company. The sale of the restaurant comes months after the company announced it would close 27 locations back in April, including one in Riverside.
Following the completion of these transactions, Bob Evans repaid outstanding indebtedness with proceeds from the sale of Bob Evans Restaurants and established a $300 million credit facility maturing April 28, 2022, according to a company statement.
FIVE FAST BUSINESS READS
• To combat retail apocalypse, local malls push for shopping innovation
• Dayton to celebrate $4 million River Run with music, community bash
• New store at The Greene to have baby piglets at grand opening
• Miamisburg candy store now selling pickle juice soda
• Waffle House co-founder dies a month after business partner