GREENWOOD VILLAGE, Colo.— Red Robin Burgers, Inc., has announced the acquisition of 32 Red Robin franchised restaurants in the U.S. and Canada for approximately $40 million from March Robin, a subsidiary of 5B Investments, Inc.
“This acquisition is a significant step in support of our expansion strategy. We are pleased to have completed this acquisition and to welcome over 2,000 team members to engage our guests in these new corporate locations,” said Steve Carley, CEO, Red Robin Gourmet Burgers, Inc. “Our plan is to employ the same strategic approach to enhance the acquired operations that we utilized so successfully across our corporate-owned restaurants.”
The 14 U.S. restaurants are located in Illinois, Idaho, Nevada, New Mexico and Utah. The 18 Canadian restaurants are located in the provinces of B.C. and Alberta.
There are nearly 500 Red Robin restaurants across the U.S. and Canada.