Bob Evans Restaurants Announce Acquisition by Golden Gate Capital

From Business Wire: Bob Evans Restaurants (“Bob Evans” or “the Company”) announced the successful completion of the Company’s previously announced acquisition by an affiliate of Golden Gate Capital from Bob Evans Farms, Inc. (NASDAQ:BOBE). Chief Executive Officer Saed Mohseni will continue to lead the Company, which will remain headquartered in the greater Columbus, Ohio area. The Company owns and operates 523 restaurant locations.

Josh Cohen, a Managing Director at Golden Gate Capital, said, “Bob Evans Restaurants is exactly the type of business in which we seek to invest – one with a treasured brand, deep customer loyalty and a talented leadership team. We have long been admirers of the sense of community that Bob Evans Restaurants has fostered among its guests for nearly 70 years, and we are excited for the opportunity to partner with Saed and the Bob Evans management team to build on that legacy as the Company enters its next phase of growth.”

Mr. Mohseni said, “I am extremely proud of the dedication and enthusiasm that the Bob Evans Restaurants team has shown in creating highly satisfied guests. We are excited to combine our strengths with the extensive industry experience and resources of the Golden Gate Capital team as we build on the rich heritage of our founder, Bob Evans. I look forward to working closely with Golden Gate Capital as we continue to provide our guests with the warm hospitality and farm-fresh quality that are the hallmarks of every Bob Evans Restaurants meal.”

Neale Attenborough, an Operating Partner at Golden Gate Capital, said, “We are excited to partner with Saed and his team to accelerate the Company's strategic initiatives and help Bob Evans Restaurants increase their momentum. We have every confidence that as a standalone company, Bob Evans Restaurants will be laser focused on driving the business to thrive in the family dining space and remain a beloved destination for its guests.”

Photo by Rick Uldricks