Bob Evans Farms Signs Purchase and Sales Agreements on Sale-Leaseback of 145 Restaurant Properties for $200 Million; Closing Expected in April 2016

February 26, 2016

New Albany, OH  (RestaurantNews.com)  Bob Evans Farms, Inc. (NASDAQ:BOBE) (“Company”) today announced it entered into purchase and sale agreements with National Retail Properties, LP, an affiliate of National Retail Properties, Inc. (“NNN”) and Mesirow Realty Sale-Leaseback, Inc., (“Mesirow”), providing for:

the sale for a purchase price of $163.4 million by Bob Evans Restaurants to NNN of a portfolio of 119 Bob Evans Restaurant properties, and the sale for a purchase price of $36.6 million by Bob Evans Restaurants to Mesirow of a portfolio of 26 Bob Evans Restaurant properties.

Each of NNN’s and Mesirow’s obligations to consummate the transactions…