SOUTHFIELD — Diversified Restaurant Holdings Inc., the owner, operator, and franchisor of Bagger Dave’s Legendary Burgers Tavern and a leading franchisee for Buffalo Wild Wings, announced today it executed an agreement to acquire eight Buffalo Wild Wings restaurants located in Indiana and Illinois for $14.7 million. Terms of the transaction include an additional franchise agreement for a location in Indiana.
“This is a very attractive acquisition opportunity for us as the locations fit within our strategic expansion plans in the Midwest,” said T. Michael Ansley, president and CEO of Diversifed. “We believe that we can leverage our existing operational infrastructure and drive improved margins and stronger bottom-line results in these restaurants. We are also aggressively expanding our unique Bagger Dave’s concept through a combination of corporate-owned and franchised locations within the same footprint, and expect to have doubled our locations by opening a total of six new Bagger Dave’s in 2012, including our first in Indiana.
The restaurants are located in Northwest Indiana and Southeast Illinois, and includes a location in Lincoln Park; one of Chicago’s most prominent neighborhoods. DRH expects to complete the purchase by the end of October subject to customary closing conditions.