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Ruby Tuesday’s Restaurants Acquired for $335M

Atlanta-based NRD Capital is acquiring all of Ruby Tuesday’s common stock for $2.40 per share in cash. The private equity firm will assume or retire all debt obligations for roughly $335 million. The restaurant chain includes 599 Ruby Tuesday restaurants in 41 states, 14 foreign countries, and Guam.

Ruby Tuesday reported total revenue declined 15.3% during the first quarter of fiscal 2018,and its adjusted net loss was $0.01 per diluted share. The purchase price represents a premium of roughly 37% over Ruby Tuesday’s closing share price before the company announced it would explore strategic alternatives, and a premium of roughly 21% over the closing share price on October 13, 2017.

Ruby Tuesday’s Board of Directors and NRD unanimously approved the deal, which is subject to shareholder approval. The acquisition is expected to be completed during Q1 2018. UBS Investment Bank is serving as financial advisor to Ruby Tuesday.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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