Investor Group to Acquire Blimpie
Atlanta-Sandwich chain Blimpie International Inc. agreed to be sold to a private investor group headed by Blimpie subfranchisor Jeffrey Endervelt. According to terms of the deal, the investor group will purchase Blimpie's outstanding 9.2 million shares of common stock for a cash purchase price of $2.80 per share, or about $25.8 million. The company operates Blimpie Subs & Salads, Smoothie Island, Pasta Central and Maui Tacos stores. -Nation's Restaurant News
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