The Restaurant Co. to get $100 million loan, upsize revolver for Marie Callender's purchase

By Sara Rosenberg

New York, April 11 - The Restaurant Co. plans to obtain a new $100 million loan and increase its revolver to $40 million from $25 million as part of its proposed acquisition of Marie Callender's Restaurant & Bakery, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

The new loan, secured by substantially all of the assets of the combined businesses, will be used to repay Marie Callender's debt.

The terms of the acquisition are still being negotiated, but, as currently contemplated, the transaction is expected to involve a stock-for-stock exchange. The transaction is subject to board and regulatory approvals.

The Restaurant Co. is a Memphis, Tenn., operator and franchisor of a national chain of restaurants under the Perkins Restaurant & Bakery name. Marie Callender's is an Aliso Viejo, Calif., chain of casual dining restaurants best known for freshly baked pies.

Both companies are controlled by investment funds organized and managed by Castle Harlan Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.