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Acquisition & Alliance News--Metromedia, Midas, Yum

2 min read
Opinions expressed by Entrepreneur contributors are their own.

Plano, Texas--Metromedia Restaurant Group has entered into an agreement to sell three of its four brands, Bonanza, Ponderosa and Steak and Ale, to Apex Steakhouse Acquisition Partners of Irving, Texas. Metromedia will continue to operate and develop its Bennigan's Irish-American Grill and Tavern concept. -Nation's Restaurant News

Itasca, Illinois--Midas Inc. will eliminate 800 works after the chain of auto repair and service shops exits the parts distribution business in favor of an alliance with AutoZone Inc. The company has been distributing parts through its own network of nine distribution centers and 77 Parts Warehouse Inc.(PWI) sites, but in January said it would divest the PWI chain because it wasn't profitable. Detroit-based AutoZone will now distribute parts and accessories to the 1,670 Midas car-service shops in the U.S. -Crain's Chicago Business

Louisville, Kentucky--Yum Brands Inc., parent of chains including Pizza Hut and Taco Bell, has paid $5 million to acquire the Pasta Bravo restaurant concept from Aliso Viejo, California-based Pasta Bravo Inc., extending a partnership between the companies that was announced in July. In an earlier licensing agreement, Yum agreed to test market multi-branded stores combining the Italian quick-service franchise with 15 Pizza Hut stores in the San Diego market. The acquisition includes the recipes, cooking platform and trademarks of Pasta Bravo but no restaurant assets. -Business First of Louisville

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