Carlson has entered into a definitive agreement for the sale of TGI Fridays® Restaurants to Sentinel Capital Partners and TriArtisan Capital Partners;
Financial terms of the transaction were not disclosed.
The transaction is expected to close by July 2014, subject to customary closing conditions. “We are proud of the Fridays brand and strong marketplace momentum that has been created over the past nearly four decades,” said Carlson President and CEO Trudy Rautio.
“This transaction is a win for all parties and we are excited and confident that under Sentinel’s ownership Fridays will continue to experience significant growth and capitalize on new opportunities.
For Carlson, this transaction frees up resources that the company can deploy to focus on and accelerate the growth of its hotel and travel businesses, at a time when significant opportunities exist in these markets.” This transaction represents the conclusion of a thorough and exhaustive strategic alternatives process initiated by Carlson for TGI Fridays in November of 2013. TGI Fridays will continue to be run by its proven and well-respected management team, led by President and CEO Nick Shepherd.
The transaction is expected to close by July 2014, subject to customary closing conditions. “We are proud of the Fridays brand and strong marketplace momentum that has been created over the past nearly four decades,” said Carlson President and CEO Trudy Rautio.
“This transaction is a win for all parties and we are excited and confident that under Sentinel’s ownership Fridays will continue to experience significant growth and capitalize on new opportunities.
For Carlson, this transaction frees up resources that the company can deploy to focus on and accelerate the growth of its hotel and travel businesses, at a time when significant opportunities exist in these markets.” This transaction represents the conclusion of a thorough and exhaustive strategic alternatives process initiated by Carlson for TGI Fridays in November of 2013. TGI Fridays will continue to be run by its proven and well-respected management team, led by President and CEO Nick Shepherd.