American Blue Ribbon Holdings, LLC (ABRH), the parent of the Village Inn and Bakers Square restaurant chains, today announced the completion of its acquisition of the Max & Erma's Restaurant chain.
Max & Erma's Restaurants, Inc. (NASDAQ: MAXE) today announced that G&R Acquisition, Inc. has completed its acquisition of Max & Erma's Restaurants, Inc. Under the terms of the transaction, G&R Acquisition acquired Max & Erma's for approximately $11.3 million in cash, or $4.00 per share.
Three new company owned restaurants continue to perform well, Franchise fees and royalties up 10% for the second quarter, Merger with G&R Acquisition, Inc. expected to be completed in mid July.
Max & Erma's Restaurants, Inc. (NASDAQ/Capital Market: MAXE) announced the signing of a definitive agreement with G&R Acquisition, Inc. (G&R), an entity formed by Gary Reinert, Sr. of Pittsburgh, Pennsylvania. Under the terms of the agreement, G&R will acquire all of the outstanding shares of the Company for $4.00 per share in cash.
President Rob Lindeman today announced that the Max & Erma's restaurant (NASDAQ:MAXE) in Arlington Heights, Ill., will close after business hours on March 16.