RTXB announced dramatic news on July 30, 2013...this is a replay for those that missed it.
Republic of Texas Brands Incorporated Announces Plan to Purchase Large Texas-Based Barbecue Restaurant Chain and Real Estate
Profitable Restaurant Chain Consists of Multiple Properties
DALLAS, TX--(Marketwired - Jul 30, 2013) - Republic of Texas Brands, Inc. (PINKSHEETS: RTXB) is pleased to announce it has signed a Letter of Intent to purchase a successful Texas-based barbecue restaurant chain, which consists of multiple profitable restaurants in exchange for approximately $20 million. The barbecue restaurant chain has been in business for over 30 years, generated well over $10 million in sales in 2012 and all of its locations are in the Dallas/Fort Worth area. The Company plans on entering into a definitive agreement after its 90 day due diligence period. The Restaurant Chain has asked to keep its name private until the definitive agreement is signed.
Republic of Texas Brands has made arrangements with a publically traded asset based lender to enter into a Letter of Intent to acquire the highly valuable barbecue restaurant chain's real estate from its current owner and lease it back to Republic of Texas Brands. The publically traded asset based lender and the barbecue restaurant chain have started negotiations on a Purchase Agreement. The Company has identified other sources for the necessary funds to complete the acquisition. The Company has no commitment for the balance of the financing and there can be no assurance that it can obtain such financing.
Republic of Texas Brands plans to launch an investor's website page within the next six months in addition to its commerce site www.republicoftexas.com to help keep investors informed and up to date on the Company and its subsidiaries.
"This acquisition will be a huge leap forward for our company and will make Republic of Texas Brands a major player in the Texas barbecue restaurant business . In addition to the company stores, we will also execute our plan to franchise locations all across the United States. The barbecue restaurant chain we plan to acquire will keep the same name that it has been operating under for over 30 years," stated Jerry Grisaffi, CEO of Republic of Texas Brands.
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Republic of Texas Brands Incorporated Announces Plan to Purchase Large Texas-Based Barbecue Restaurant Chain and Real Estate
Profitable Restaurant Chain Consists of Multiple Properties
DALLAS, TX--(Marketwired - Jul 30, 2013) - Republic of Texas Brands, Inc. (PINKSHEETS: RTXB) is pleased to announce it has signed a Letter of Intent to purchase a successful Texas-based barbecue restaurant chain, which consists of multiple profitable restaurants in exchange for approximately $20 million. The barbecue restaurant chain has been in business for over 30 years, generated well over $10 million in sales in 2012 and all of its locations are in the Dallas/Fort Worth area. The Company plans on entering into a definitive agreement after its 90 day due diligence period. The Restaurant Chain has asked to keep its name private until the definitive agreement is signed.
Republic of Texas Brands has made arrangements with a publically traded asset based lender to enter into a Letter of Intent to acquire the highly valuable barbecue restaurant chain's real estate from its current owner and lease it back to Republic of Texas Brands. The publically traded asset based lender and the barbecue restaurant chain have started negotiations on a Purchase Agreement. The Company has identified other sources for the necessary funds to complete the acquisition. The Company has no commitment for the balance of the financing and there can be no assurance that it can obtain such financing.
Republic of Texas Brands plans to launch an investor's website page within the next six months in addition to its commerce site www.republicoftexas.com to help keep investors informed and up to date on the Company and its subsidiaries.
"This acquisition will be a huge leap forward for our company and will make Republic of Texas Brands a major player in the Texas barbecue restaurant business . In addition to the company stores, we will also execute our plan to franchise locations all across the United States. The barbecue restaurant chain we plan to acquire will keep the same name that it has been operating under for over 30 years," stated Jerry Grisaffi, CEO of Republic of Texas Brands.
Please visit our website:
