SPB Hospitality Agrees to Acquire J. Alexander's Holdings Inc.

$220 million transaction will kind on the success of SPB Hospitality’s present portfolio with the addition of polished informal brands

SPB Hospitality Agrees to Acquire J. Alexander's Holdings Inc.Houston, TX  (RestaurantNews.com)  On the present time, SPB Hospitality, an industry leading operator and franchisor of steakhouses, pizza and craft brewery restaurants, announced that it has agreed to accomplish J. Alexander’s Holdings Inc. [NYSE:JAX] at $14.00 per portion in an all-money merger, which equates to an equity worth of roughly $220 million. This represents a 14% top fee over J. Alexander’s closing effect on July 1, 2021, which was once the closing trading day ahead of getting into into the definitive merger agreement. The transaction is anticipated to shut early in the fourth quarter of 2021, subject to primitive closing cases including the approval of the merger by J. Alexander’s shareholders.

J. Alexander’s Holdings, Inc. operates 47 upscale restaurants with award-profitable brands including J. Alexander’s, Stoney River Steakhouse and Grill, Redlands Grill, Overland Park Grill and Merus Grill. For extra than 30 years, J. Alexander’s company own enjoyed a recent American menu and unparalleled polished provider.

“We’re honored to accomplish these storied brands and behold ahead to welcoming this skilled crew into the SPB family,” mentioned SPB Hospitality Chief Executive Officer Jim Mazany. “This acquisition advances our imaginative and prescient to alter into the industry leader and a pioneer of hospitality, whereas growing our portfolio of brands and turning in handiest-in-class returns, one tall restaurant at a time.”

Morgan McClure, President of SPB Hospitality and Managing Director at Fortress Funding Team, acknowledged, “Now we own big self assurance in SPB leadership and their imaginative and prescient for building a factual industry leader in the hospitality home. J. Alexander’s unprecedented crew and established brands ticket a a have to own addition to the SPB family and a prime step ahead in achieving SPB’s imaginative and prescient.”

J.P. Morgan Securities LLC and Configure Partners LLC served as monetary advisors and Hunton Andrews Kurth LLP served as apt counsel to SPB Hospitality and Fortress Funding Team. Piper Sandler & Co. served as monetary manual to J. Alexander’s Holdings Inc. and Bass, Berry & Sims PLC acted because the corporate’s apt counsel.

About SPB Hospitality

SPB Hospitality is a leading operator and franchisor of chubby-provider eating restaurants, spanning a nationwide footprint of hundreds of restaurants and breweries in 38 states and the District of Columbia. Based mostly totally mostly in Houston, the corporate’s diverse portfolio of restaurant brands contains Logan’s Roadhouse, Ragged Chicago Pizza & Taproom, Rock Bottom Restaurant & Brewery, Gordon Biersch Brewery Restaurant, and a series of area of expertise restaurant concepts. For extra knowledge about SPB Hospitality, talk over with spbhospitality.com.

About J. Alexander’s Holdings, Inc

J. Alexander’s Holdings, Inc. is a series of restaurants that focal point on offering high quality meals, prominent genuine provider and an shiny ambiance. The Firm currently operates 47 restaurants in 16 states. For extra knowledge, talk over with JAlexandersHoldings.com.


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