Chalak Mitra Group sells 3 brands
Genghis Grill parent Chalak Mitra Group of Companies announced on Monday the sale of three of its non-core brands — Elephant Bar Restaurant, Baker Bros. American Deli and Ruby Tequila’s Mexican Kitchen.
Terms of the sale were not disclosed.
The most recent completed sale was for the 10-unit Elephant Bar, which was sold via stock purchase agreement on May 19 to an affiliate of SBR LLC, described as an investment company based in Connecticut.
Chalak Mitra Group acquired the then-34-unit Elephant Bar out of bankruptcy in 2014. It was operated at the time by S.B. Restaurant Co. Greenwich, Conn.-based KarpReilly