Shoney's Pending Buyer Eyes Franchising Growth

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Feb 13, 2002

Nashville, Tennessee-A private investment firm planningto acquire long-ailing Shoney's Inc. in a leveraged buyout saysexpanded franchising should help spur growth of both thecompany's concepts, Captain D's Seafood and the flagshipShoney's restaurants. Shoney's, which operates andfranchises about 380 namesake restaurants and about 560 CaptainD's units, agreed to be taken private by the Dallas-basedaffiliate of Lone Star Funds for about $18.2 million and theassumption of about $225 million in debt. The deal still is subjectto shareholder approval but is expected to be completed beforeJuly. -Nation's Restaurant News

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