Dine Brands announced that it has agreed to acquire Fuzzy’s Taco Shop from Experiential Brands LLC, a wholly owned subsidiary of NRD Holding Company, for $80M in cash. Fuzzy’s is a fast-casual restaurant concept serving Mexican favorites with a Baja twist. The transaction is expected to be immediately accretive to earnings. Net of tax benefits, the purchase price is approximately $70M. Fuzzy’s, with 138 restaurants in 18 states, has long-term development agreements currently in place to nearly double its current restaurant base over time. 98% of Fuzzy’s current system is franchised and its strong unit economics attract franchisees to open more restaurants. The brand is expected to generate approximately $230M in systemwide sales in 2022.
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Published first on TheFly