Red Robin to draw on existing facility for purchase of restaurants

By Sara Rosenberg

New York, Jan. 31 - Red Robin Gourmet Burgers, Inc. plans to use borrowings under its existing credit facility to fund the $20.9 million acquisitions of 11 existing Red Robin franchised restaurants, according to a news release.

Eight of the existing franchised restaurants are located in Wisconsin and are owned by Dane County Robins Inc., while the remaining three existing franchised restaurants are located in Minnesota and are owned by Minnesota Robins Inc.

The acquisitions are expected to be completed in the second quarter.

Red Robin is a Greenwood Village, Colo.-based casual dining company.

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