Fidelity National Financial, Inc. Announces Merger of O’Charley’s into American Blue Ribbon Holdings



Fidelity National Financial, Inc. (NYSE: FNF), a leading provider of title insurance, mortgage services and diversified services, today announced that it completed the merger of O’Charley’s LLC, a previously 100%-owned subsidiary of FNF, with American Blue Ribbon Holdings LLC (“ABRH”), FNF’s previously 45% owned restaurant company.  As a result of the merger, FNF now owns 55% of the combined entity (which will retain the ABRH name) and will begin to consolidate the financial results of ABRH in the second quarter of 2012.  After the closing of a new 5-year credit facility and the subsequent ABRH repayment of an FNF intercompany note payable, FNF’s aggregate cash investment in ABRH is approximately $120 million.

ABRH currently owns and operates 674 restaurants in 43 states under six different restaurant concepts including Village Inn, Bakers Square, Max & Erma’s, O’Charley’s, Ninety Nine Restaurant and Stoney River Legendary Steaks, as well as the APC award winning pie bakery Legendary Baking, with total annual revenue of approximately $1.3 billion.

Fidelity National Financial, Inc. (NYSE: FNF), is a leading provider of title insurance, mortgage services and diversified services.  FNF is the nation’s largest title insurance company through its title insurance underwriters – Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title – that collectively issue more title insurance policies than any other title company in the United States.  FNF also owns a 55% stake in American Blue Ribbon Holdings, LLC, an owner and operator of the Village Inn, Bakers Square, Max & Erma’s, O’Charley’s, Ninety Nine Restaurant and Stoney River Legendary Steaks concepts, as well as the APC award-winning pie bakery Legendary Baking.  In addition, among other operations, FNF owns minority interests in Ceridian Corporation, a leading provider of global human capital management and payment solutions and Remy International, Inc., a leading designer, manufacturer, remanufacturer, marketer and distributor of aftermarket and original equipment electrical components for automobiles, light trucks, heavy-duty trucks and other vehicles.  More information about FNF can be found at www.fnf.com.