First Watch Restaurant (FWRG) Group announced it has agreed to acquire 15 of its franchise-owned restaurants, one restaurant currently under construction and corresponding development rights in North Carolina and South Carolina for an aggregate purchase price of $49 million on a cash-free, debt-free basis, subject to certain customary adjustments. The restaurant currently under construction is expected to open prior to the closing of the transaction.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FWRG:
- First Watch Restaurant price target raised to $24 from $22 at Barclays
- First Watch Restaurant price target raised to $25 from $20 at Stephens
- First Watch Restaurant price target raised to $22 from $18 at Barclays
- First Watch Reports Mixed Q3 2024 Results
- First Watch Restaurant sees FY24 revenue growth 16.5%-17%