reports
Diversified Restaurant Holdings, Inc. and ICV Partners Complete Merger
TROY, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC, "DRH" or the "Company") today announced the completion of its previously announced merger with investment entities affiliated with ICV Partners, LLC (together with its affiliates, “ICV”). Under the terms of the merger agreement, an affiliate of ICV acquired all of the outstanding shares of DRH for $1.05 per share in cash. With the closing of the transaction, DRH’s common stock will cease to trade on NASDAQ at market close today and will be delisted. Letters of transmittal allowing former DRH stockholders to deliver their shares to the paying age...
Diversified Restaurant Holdings, Inc. To Be Acquired By ICV Partners
TROY, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC, "DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 sports bars across five states, today announced the execution of a definitive merger agreement with investment entities affiliated with ICV Partners, LLC (together with its affiliates, “ICV”), a leading private investment firm that supports strong lower middle market companies. Under the terms of the agreement, ICV has agreed to acquire the Company in an all cash transaction valued at approximately $130 million, including the assumption of outstanding...
Diversified Restaurant Holdings Reports 5.8% Increase in Same-Store Sa...
TROY, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, today announced results for its second quarter ended June 30, 2019. Second Quarter and Year to Date Information (compared with prior-year period unless otherwise noted) Revenue totaled $38.9 million, up 5.1% despite one fewer restaurant Same-store sales increased 5.8% with both traffic and average ticket up Net loss significantly reduced to $0.5 million Restaurant-level EBITDA(1) was $5.7 million or 14.6% of sales ...
Diversified Restaurant Holdings Announces Second Quarter 2019 Financia...
TROY, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 restaurants across five states, announced that it will release its second quarter 2019 financial results after the close of financial markets on Wednesday, August 14, 2019. The Company will host a conference call and webcast to review its financial and operating results and discuss its corporate strategies and outlook. A question-and-answer session will follow. Second Quarter 2019 Conference Call Thursday, August 15, 2019 10:00 a.m. Easte...
Diversified Restaurant Announces Restructuring Program and Management ...
TROY, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW"), announced today that David G. Burke, President and CEO, and Phyllis Knight, Chief Financial Officer, resigned their positions with the Company as part of the Company’s efforts to restructure the business effective June 27, 2019. Mr. Burke also resigned his position as a Director at that time. Michael Ansley, Executive Chairman of the Board, will assume the role of Interim CEO. Mr. Ansley is the founder and largest shareholder of the Company. He has been ope...
Diversified Restaurant Holdings Reports Second Quarter To-date Prelimi...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- (Nasdaq:SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, plans to announce today at the 19th Annual Oppenheimer Consumer Growth and E-Commerce Conference in Boston preliminary unaudited sales results for the second quarter through June 16, 2019, of 7.2%. “With the majority of our second quarter in the books, we are on pace to achieve our third consecutive quarter of same-store sales growth and, importa...
Diversified Restaurant Holdings to Present at Oppenheimer Consumer Gro...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- (Nasdaq:SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, announced that David G. Burke, President and Chief Executive Officer, and Phyllis A. Knight, Chief Financial Officer, will present and be available for investor meetings at the 19th Annual Oppenheimer Consumer Growth and E-Commerce Conference in Boston on Wednesday, June 19, 2019. The Company plans to provide recent sales trends and an update on its refinancing ...
Diversified Restaurant Holdings Reports 4.2% Increase in Same-Store Sa...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Diversified Restaurant Holdings, Inc. (Nasdaq:SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, today announced results for its first quarter ended March 31, 2019. First Quarter Information (compared with prior-year period unless otherwise noted) Revenue totaled $40.6 million, up 2.6% despite one fewer restaurant Same-store sales increased 4.2% Net i...
Diversified Restaurant Holdings Announces First Quarter 2019 Financial...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC) ("Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, announced that it will release its first quarter 2019 financial results after the close of financial markets on Tuesday, May 7, 2019. The Company will host a conference call and webcast to review its financial and operating results and discuss its corporate strategies and outlook. A question-and-answer session will follow. First Quarter 2019 Confere...
Diversified Restaurant Holdings Reports 4.2% Increase in Preliminary S...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC) (“DRH” or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, announced preliminary unaudited sales results for the first quarter ended March 31, 2019. DRH also announced that its franchisor, Buffalo Wild Wings, Inc., has exercised its right of first refusal to acquire the assets of nine BWW restaurants located in the Chicago market that were previously subject to its Asset Purchase Agreement dated February 22, 2019. ...
Diversified Restaurant Holdings Reports 2.2% Increase in Same-store Sa...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, today announced results for its fourth quarter and fiscal year ended December 30, 2018. Fourth Quarter and Full Year Key Information (from continuing operations) Revenue for the quarter totaled $39.1 million and was $153.1 million for the year Achieved same-store sales growth of 2.2% in the fourth quarter; firs...
Diversified Restaurant Holdings Announces Fourth Quarter and Full Year...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC) ("Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, announced that it will release its fourth quarter and full year 2018 financial results after the close of financial markets on Thursday, March 7, 2019. The Company will host a conference call and webcast to review its financial and operating results and discuss its corporate strategies and outlook. A question-and-answer session will follow. Fourth Q...
Diversified Restaurant Holdings Reports Positive Preliminary Same Stor...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- (Nasdaq:SAUC) (“DRH” or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, announced preliminary unaudited sales results for the fourth quarter and year ended December 30, 2018. DRH also announced that it has entered into an agreement to acquire nine BWW restaurants located in the Chicago market for $22.5 million. David G. Burke, President and CEO, stated, “We achieved our first positive quarterly same-store sales resul...
Diversified Restaurant Holdings Reports Third Quarter 2018 Results
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Diversified Restaurant Holdings, Inc. (Nasdaq: SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, today announced results for its third quarter ended September 30, 2018. Third Quarter Information (from continuing operations) Revenue totaled $37.5 million; Same-store sales declined 5.2% (down 3.6% excluding major 2017 boxing event) Net loss was $1.8 million or $0.06 per diluted ...
Diversified Restaurant Holdings Announces Third Quarter 2018 Financial...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC) ("Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, announced that it will release its third quarter 2018 financial results after the close of financial markets on Tuesday, November 6, 2018. The Company will host a conference call and webcast to review its financial and operating results and discuss its corporate strategies and outlook. A question-and-answer session will follow. Third Quarter 2018 Co...
Diversified Restaurant Holdings Announces Board of Director Changes
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- (Nasdaq: SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 64 stores across five states, announced that, effective August 30, 2018, Gregory J. Stevens has resigned from the Company’s Board of Directors in order to focus his efforts on his other businesses. Concurrently, the Company announced the appointment of Roger Lipton to its Board of Directors, where it is also anticipated that he will replace Mr. Stevens on the Compensation Committee. ...
Diversified Restaurant Holdings Reports Second Quarter 2018 Results
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Diversified Restaurant Holdings, Inc. (Nasdaq: SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 65 stores across five states, today announced results for its second quarter ended July 1, 2018. Second Quarter Information (from continuing operations) Revenue totaled $37.0 million Same-store sales declined 6.4% Net loss was $1.1 million or $0.04 per diluted share Res...
Diversified Restaurant Holdings Announces Pricing of its Public Offeri...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Diversified Restaurant Holdings, Inc. (“DRH” or the “Company”) (NASDAQ:SAUC), one of the largest franchisees for Buffalo Wild Wings® (“BWW”) with 65 stores across five states, today announced the pricing of its previously announced underwritten registered public offering of 6 million shares of its common stock at a public offering price of $1.00 per share, including 700,000 shares offered by a certain selling stockholder, for total Company gross proceeds of $5.3 million. DRH also granted the ...
Diversified Restaurant Holdings Announces Proposed Public Offering of ...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Diversified Restaurant Holdings, Inc. (“DRH” or the “Company”) (Nasdaq:SAUC), one of the largest franchisees for Buffalo Wild Wings® (“BWW”) with 65 stores across five states, today announced that it and a certain selling stockholder intend to offer and sell approximately $6.0 million of shares of its common stock in an underwritten registered public offering. DRH will not receive any proceeds from the sale of the shares of common stock by the selling stockholder. The proposed offering is su...
Diversified Restaurant Holdings to Present at Oppenheimer Consumer Con...
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Diversified Restaurant Holdings, Inc. (NASDAQ: SAUC) ("DRH" or the "Company"), one of the largest franchisees for Buffalo Wild Wings® ("BWW") with 65 stores across five states, announced that David G. Burke, President and Chief Executive Officer, and Phyllis A. Knight, Chief Financial Officer, will present and be available for investor meetings at the 18th Annual Oppenheimer Consumer Conference in Boston on Wednesday, June 20, 2018. The DRH presentation is scheduled to begin at 11:3...
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