Frisch’s selling Golden Corral restaurants to Atlanta-based company

Cincinnati-based Frisch’s announced Monday that it has agreed to sell its Golden Corral restaurants and real estate to NRD Holdings LLC, an Atlanta-based operator of fast-food and pizza restaurants.

Terms of the transaction were not disclosed. The transaction is expected to close by the end of the company’s fiscal year ending May 29, 2012, Frisch’s officials said in a news release.

The Frisch’s website for its Golden Corral restaurants lists several area locations, including 3350 Village Drive in Middletown near Towne Mall and 470 Kolb Drive in Fairfield near Cincinnati Mall, as well as one in Symmes Twp.

Mark R. Lanning, vice president of finance and chief financial officer for Frisch’s, said NRD is expected to continue operating all of the Golden Corral restaurants that it is purchasing.

The sale will have no direct impact on existing Frisch’s Big Boy restaurants, but “will allow us to focus on the Big Boy core brand” going forward, Lanning said.

Frisch’s officials have not decided how to allocate the proceeds from the sale. The restaurant chain is constantly evaluating older stores and has in some cases closed older stores after building a new restaurant nearby, the CFO said.

NRD also owns Popeyes restaurants in the Atlanta area and Checkers/Rally’s restaurants in Los Angeles, Phoenix and Atlanta. And the company has been expanding its restaurant holdings: In June 2011, its purchase of 23 Domino’s Pizza stores in Florida made it one of the top 25 Domino’s franchisees in the U.S.

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