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Subsequent Events
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6 Months Ended |
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Jul. 13, 2014
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| Subsequent Events [Abstract] | |
| Subsequent Events |
Subsequent Events
On July 14, 2014, the Company completed the acquisition of 32 Red Robin franchised restaurants in the United States and Canada, for approximately $40.0 million, from Mach Robin, LLC and its Canadian affiliate. The Company incurred approximately $0.6 million and $1.1 million in acquisition costs related to this acquisition for the twelve weeks and twenty-eight weeks ended July 13, 2014. As of July 13, 2014, we had an additional $40.0 million borrowing from our credit facility to fund this acquisition and the borrowed funds are included in Cash and cash equivalent in the accompanying condensed consolidated balance sheets. Because of the timing of the acquisition close, the initial accounting for this acquisition is still in process, including determining the fair value of the net assets acquired and presentation of the pro-forma results.
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- Details
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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