Red Robin Gourmet Burgers has entered into a definitive refranchising agreement with Evergreen Dining LLC, an experienced multi-unit restaurant operator. Under this new deal, the company will transition the ownership of 30 existing locations spread across Washington and Western Idaho.
For regulars who frequent these locations, there is no need to worry about major changes to the dining experience. These neighborhood spots will continue operating under the exact same brand identity that guests have come to love and trust over the years.
From a financial standpoint, the agreement brings a significant capital injection to the brand’s corporate parent. Red Robin Gourmet Burgers will receive $23.5 million in cash upon the closing of the deal. Corporate leaders plan to channel the majority of these proceeds directly toward paying down outstanding debt. At the same time, this liquidity helps the executive team continue executing the core priorities laid out in its comprehensive “First Choice Plan.”
A Strategic Franchise Partnership for Red Robin Gourmet Burgers
When turning over corporate stores to franchise partners, finding an operator with a proven track record is essential. Evergreen Dining’s principals bring an immense amount of organizational depth to the table:
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Decades of Industry Experience: The operational leadership team has successfully run more than 100 restaurants across multiple national brands over nearly three decades.
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Massive Workforce Scale: Their operating entities support more than 1,200 team members across the Pacific Northwest region.
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Full-Service Corporate Infrastructure: The group utilizes a dedicated support center to handle specialized administrative functions, including accounting, human resources, information technology, marketing, payroll, purchasing, and real estate services.
“Since launching our First Choice Plan last year, we have been focused on finding franchise partners who share our values and commitment to delighting guests,” said Dave Pace, President and Chief Executive Officer of Red Robin Gourmet Burgers. “We are confident Evergreen Dining is the right partner to accelerate growth at these locations while also helping us strengthen our balance sheet, improve our capital structure, and enhance our financial flexibility as we evaluate potential refinancing partners.”
Timeline for Closing and Next Steps for the Brand
The Pacific Northwest communities where these 30 restaurants operate have a long history with the burger concept.
Evergreen Dining shared their enthusiasm for the legacy, stating, “Red Robin has been bringing Washingtonians and Idahoans together for moments of connection since 1969. We look forward to partnering with the talented teams in each location to solidify Red Robin’s position as the First Choice in these communities, while still offering the same juicy burgers, bottomless fries and exceptional hospitality guests have enjoyed for almost six decades.”
The transaction is expected to close during the second half of 2026, assuming all customary closing conditions are met. Corporate management expects to officially update its financial guidance once the deal crosses the finish line.