USA - Restaurant chain on the market
23 Jul 2012
Bob Evans Farms Inc. is reportedly trying to sell its long-struggling Mimi’s Cafe chain.
Mergermarket Group, a merger and acquisitions research and reporting firm, said the Columbus-based company has begun the sale process for the 143-restaurant Mimi’s chain and has held two management presentations on the topic. Citing two sources “briefed on the matter,” it said private equity firms are the primary suitors.
Representatives of Columbus-based Bob Evans declined to comment on the report Monday, citing a policy to not discuss rumor and speculation.
It wouldn’t be a surprise if a Mimi’s sale is in the works. Bob Evans CEO Steve Davis in November said the company was keeping a close watch on the casual restaurant chain, which has gone through several leaders and struggled with declining same-store sales in recent years.
Mimi’s was acquired by Bob Evans in 2004...
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Source: Argentine Beef Packers S.A.
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