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First Watch Restaurant agreed to acquire 16 franchise restaurants for $49M
The Fly

First Watch Restaurant agreed to acquire 16 franchise restaurants for $49M

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.

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