1. Bob Evans sells restaurants
In late January, Bob Evans Restaurants announced Tuesday it has sold all of its restaurant locations to a private equity firm for $565 million. Golden Gate Capital bought the restaurant chain, and will retain the Bob Evans leadership team to guide the transition as it takes part of the company private, the company said. READ MORE
2. Bob Evans CEO: Restaurants will remain open
Saed Mohseni, CEO of Bob Evans Farms Inc., told this news organization that customers can expect their local Bob Evans to remain open. "As I sit here today, I can say there are no closures coming," he said. "It will be business as usual at all Bob Evans." READ MORE
3. The restaurant deal becomes official in May
Bob Evans Farms Inc. announced the completion of its sale of Bobs Evans Restaurants to Golden Gate Capital in May. Ohio-headquartered Bob Evans sold its restaurant to the private equity firm for $565 million. Golden Gate Capital has bought the restaurant chain, and will retain the Bob Evans leadership team to guide the transition as it takes part of the company private, the company said. Net proceeds are expected to be between $475 million and $485 million, according to a company statement. READ MORE
4. Bob Evans Farms has been sold for $1.5B
Post Holdings, Inc. will acquire Bob Evans Farms, Inc. for $1.5 billion, the companies announced today. Post Holdings and Bob Evans Farms have entered into a definitive agreement in which Post will acquire Bob Evans for $77.00 per share. The deal will "significantly strengthen Post's portfolio of brands, expand choices for customers and increase Post's presence in higher growth categories of the packaged food market," the company said in a statement. READ MORE
5. Local Bob Evans restaurant shuts down abruptly
In January, when a private equity firm announced it had purchased Bob Evans Restaurants, the new owners went out of their way to assure its diners that the move would not result in any immediate closures of any Bob Evans locations.
In recent days, however, the Bob Evans restaurant at 1901 W. Dorothy Lane in Moraine shut down abruptly. By this weekend, all of the building’s identifying signage had been removed, and a small sign placed on the inside entrance door says simply that the restaurant was closed “effective immediately,” and rather than referring customers to specific nearby Bob Evans restaurants, the sign directs diners to “Please visit www.bobevans.com for additional locations.”
Bob Evans still operates more than 20 restaurants across the Miami Valley, including locations in Centerville, Dayton, Beavercreek, Miamisburg, Xenia, Huber Heights, Springfield, Middletown, Hamilton and Springboro. READ MORE
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