Brinker International Acquires 103 Franchised Chili’s Restaurants
Acquisition expected to be EPS accretive in fiscal year 2016 and strengthen long-term free cash flow generation
Dallas, TX (RestaurantNews.com) Brinker International, Inc. (NYSE: EAT) today announced it has acquired Pepper Dining Holding Corp., a franchisee of 103 Chili’s® Grill & Bar restaurants primarily located in the Northeast and Southeast. The purchase price of $106.5 million was funded with availability under Brinker’s existing credit facility and the acquisition is expected to be EPS accretive in fiscal year 2016.
“This acquisition represents a compelling opportunity to create value for our shareholders and generate additional earnings and cash flow growth,” said…