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Avado Brands Announces Pending Sale of Its McCormick & Schmick’s Brand

MADISON, Ga., June 8, 2001 /PRNewswire/ -- Avado Brands, Inc. (Nasdaq: AVDOC) today announced that it has entered into a definitive contract with Bruckmann, Rosser, Sherrill & Co., Inc. and Castle Harlan, Inc. for the sale of the Company's McCormick & Schmick's brand for $123.5 million in cash. The Company intends to apply the proceeds from the sale, which is expected to close during the third quarter, to pay off its revolving credit facility, to...

Two Buyout Firms Agree To Acquire McCormick & Schmick’s Restaurants

NEW YORK, June 8, 2001 /PRNewswire/ -- Two New York-based private equity investment firms, Bruckmann, Rosser, Sherrill and Co., Inc. (BRS) and Castle Harlan, Inc., announced today they had jointly signed an agreement to buy McCormick & Schmick's seafood restaurants from Avado Brands, Inc. (Nasdaq: AVDOC) of Madison, Georgia. The transaction was valued at $123.5 million. McCormick & Schmick's management, including founders Bill McCormick and Doug Schmick, will also participate in the transaction. McCormick & Schmick's, based...

Il Fornaio Announces Amended Merger Agreement

CORTE MADERA, Calif.--(BUSINESS WIRE)--May 2, 2001--Il Fornaio (America) Corporation (Nasdaq: ILFO), an authentic Italian restaurant and bakery company with locations across the United States, announced today that its Board of Directors, following the recommendation of a Special Committee of the Board composed of independent directors, has approved an amended merger agreement with Manhattan Acquisition Corp. (``Newco''), an affiliate of Bruckmann, Rosser, Sherrill & Co., L.L.C. (``BRS''). Under the terms of the amended merger agreement, the...

BRS to acquire Il Fornaio, Eyes Sale of Au Bon Pain

Nation's Restaurant News, November 27, 2000 -- As Bruckmann, Rosser, Sherrill & Co. this month agreed to buy upscale Italian dinner-house operator Il Fornaio for about $93 million, sources close to BRS said it is poised to sell the Au Bon Pain chain to Compass Group North America. Confirmation of the Au Bon Pain sale could not be obtained officially by presstime either from BRS or Charlotte, N.C.-based Compass, an arm of the British hospitality giant...