Huddle House Inc. agreed to buy 342 Perkins Restaurant & Bakery locations. The deal did not include Marie Callender's restaurants or the Foxtail bakery. Please read more about the sale below.
The Atlanta-based family-dining brand said it expected the deal to close on Oct. 21. Terms were not disclosed.
In early August, Perkins & Marie Callender’s Inc. filed for bankruptcy protection and closed 29 Perkins Restaurant & Bakery and Marie Callender’s restaurants.
The company said Huddle House executives will manage the Perkins units out of the company’s Atlanta headquarters.
There are no plans to convert any existing units to Huddle House restaurants.
This is a very good fit because Huddle House and Perkins are breakfast-first concepts.
They believe that Huddle House’s existing platforms and financial backing can help to strengthen the growth of the Perkins brand.
The Perkins system has 342 restaurants in 32 states and Canada, of which about 100 are company-owned.
Combined, Huddle House, which had 344 units at the end of its fiscal year in April, and the Memphis, Tenn.-based Perkins restaurants would total nearly 700 locations.
Huddle House said the two brands would generate more than $800 million in sales.