Red Robin to draw on existing facility for purchase of restaurants in California

By Sara Rosenberg

New York, Jan. 31 - Red Robin Gourmet Burgers, Inc. plans to use borrowings under its existing credit facility to fund the proposed acquisition of 17 Red Robin franchised restaurants in California for $47.5 million, according to a company news release.

The 17 franchised Red Robins are currently owned by Top Robin Ventures and Morite of California.

The acquisition, if completed, is expected to close in the second quarter.

Red Robin is a Greenwood Village, Colo.-based casual dining restaurant chain.

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