London-based private-equity firm Electra Partners is acquiring the 66-unit TGI Fridays division in the United Kingdom for $155.3 million in a management-led buyout. The deal, including debt, values the company at about $395.9 million.
According to Wikipedia, the first restaurant in this American casual dining chain opened in New York in 1965. It was also one of the first restaurants to use promotions such as “Ladies’ Night.”
Currently, there are over 900 TGI Friday’s restaurants in approximately 60 countries.
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