Romano’s Macaroni Grill (“Mac Acquisition, LLC”) today announced that it entered into a definitive agreement to purchase four Romano’s Macaroni Grill locations from franchisee, Waterloo Restaurant Ventures, Inc. Three of the restaurants are located in the Bay Area of San Francisco, while the fourth is in the Seattle area.
With the completion of this acquisition, Romano’s Macaroni Grill parent company will own and operate 186 Romano’s Macaroni Grill restaurants in the United States.
“With the acquisition of these four restaurants, we gain a strong company-owned footprint in the Bay Area and the Pacific Northwest,” said Norman Abdallah, Chief Executive Officer and President of Romano’s Macaroni Grill. “It’s a great opportunity for us to establish our brand presence in these dynamic markets.”
Waterloo Restaurant Ventures, Inc. filed for relief under Chapter 11 of the United States Bankruptcy Code. The acquisition by Romano’s Macaroni Grill parent company originated in public auction. Closing is anticipated to occur at the end of September 2012. The Waterloo employees will be offered positions within the Romano’s Macaroni Grill organization.
For more information on Romano’s Macaroni Grill, please visit the company’s website at www.macaronigrill.com.