#USA #Red Robin #Englewood #Evergreen Dining #Op Burgers

Red Robin Gourmet Burgers, Inc. Completes Restaurant Sales

In a significant move towards restructuring and financial enhancement, Red Robin Gourmet Burgers, Inc. has announced the successful completion of the sale of 108 of its restaurants for a total of $89.4 million. This action marks a pivotal point in the company's ongoing effort to fortify its balance sheet under the First Choice Plan and facilitate future growth.

On September 1, 2026, Red Robin revealed that it had initiated the majority of closures related to the refranchising transactions, which were initially communicated to the public on May 28 and June 15 of the same year. Along with the $89.4 million earned from the sale, the company anticipates generating an additional $6.6 million from the closing of the remaining eight restaurants, expected before the fiscal year concludes. The net proceeds from these sales will be directed towards reducing existing debt, supporting refinancing strategies, and enhancing the restaurant experience overall.

Details of the Transaction

This extensive refranchising transaction involves various multi-unit restaurant operators who are excited to carry on the reputable Red Robin brand, built over six decades of strong consumer trust. The sold units span several states, with the following key operators acquiring numerous locations:

• - Op Burgers, LLC secured 69 restaurants primarily located in states such as Kentucky, Indiana, Maryland, Ohio, North Carolina, Pennsylvania, South Carolina, and Virginia for $62.5 million. Out of these, 61 have already changed hands, while the closing of the remaining eight is subject to the transfer of appropriate liquor licenses.
• - Kuber Oregon, LLC and Kuber Washington, LLC collectively obtained 17 locations in Oregon and Washington for $10 million.
• - Evergreen Dining LLC purchased 30 restaurants in Washington and Idaho for $23.5 million.

Leadership Insights

Dave Pace, President and CEO of Red Robin, expressed enthusiasm about the progress made and emphasized the importance of these transactions in enabling the company to build a solid financial foundation. He noted that the selected operators share the same hospitality-driven mindset vital to maintaining the brand's heritage while ensuring growth and exceptional service. Pace articulated confidence that these seasoned franchise operators would bring valuable experience and resources to enhance operations at every restaurant.

Statements from the acquiring teams resonated with optimism. Op Burgers expressed their commitment to utilizing their multi-unit operational expertise to support the success of the restaurants they now manage. Kuber reiterated its excitement to partner with the dedicated teams at each location, especially in building upon the brand’s established reputational success in the Pacific Northwest. Meanwhile, Evergreen Dining voiced readiness to work closely with Red Robin to bolster its presence in various communities across Washington and Idaho.

Future Outlook

As Red Robin's management plans to reinvest in restaurant upgrades and technology to enrich the customer experience, the finalized sales point toward a strategic pivot in operations during a critical phase of its business evolution. The company intends to allocate the proceeds from these transactions to pay down outstanding debt and advance the refinancing priorities outlined in the First Choice Plan.

Red Robin Gourmet Burgers remains committed to ensuring that nothing brings people together quite like burgers and fun, illustrating a dedication to fostering connections over delicious meals.

For additional insights and the full transaction report, stakeholders and interested parties are encouraged to review the company's Form 8-K, which will be filed with the Securities and Exchange Commission.

About Red Robin Gourmet Burgers, Inc.

Founded in 1969, Red Robin Gourmet Burgers operates as a casual dining chain renowned for its burgers and vibrant dining atmosphere. With nearly 500 locations across the U.S. and Canada, Red Robin promises a pleasurable dining experience featuring a menu that caters to all, including activities to engage every member of the family. To celebrate the love for burgers, fans are encouraged to join the Red Robin Royalty program for exclusive perks.