Champps, F&H merger expected to close by Oct. 22

By Lisa Kerner

Charlotte, N.C., Sept. 28 - The acquisition of Champps Entertainment, Inc. by F&H Acquisition Corp. is one step closer to completion following Champps shareholders' approval of the deal at a special meeting on Friday.

Champps said that the holders of some 99.8% of the shares voted, or about 81.6% of the total number of outstanding shares, had voted to approve and adopt the merger agreement.

The merger is slated to close on or before Oct. 22, according to a company news release.

On Sept. 24, Champps announced it agreed to give F&H and its equity sponsors Newcastle Partners LP, Newcastle Special Opportunity Fund III, LP and Steel Partners II, LP more time to complete the financing of F&H's acquisition of Champps.

F&H is the holding company for Fox & Hound Restaurant Group.

In July, F&H agreed to buy Champps for $5.60 per share cash in a deal valued at about $74.8 million, according to a previous news report.

Champps, based in Littleton, Colo., owns and operates 48 and franchises/licenses 13 restaurants in 21 states.

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