Market Overview

Famous Dave's Receives Unsolicited Offer for Tulsa Location, Sale Completed March 2, 2012

Famous Dave's of America, Inc. (Nasdaq: DAVE) announced today that it has sold its Tulsa, Oklahoma location. Famous Dave's last day of operations in Tulsa will be March 2, 2012. The terms of the sale and buyer information have not been disclosed.

"This was a unique situation as Famous Dave's was not seeking to exit the market. When we received an unsolicited offer from a real estate developer for this corporate location, we determined that it was highly attractive for a number of reasons, despite having to close down a market. The offer affords us the opportunity to open the Tulsa market, and the rest of Oklahoma, as a strong franchise market, while focusing corporate growth where we have existing locations and can achieve market penetration," said Christopher O'Donnell, Famous Dave's President and CEO.

Posted-In: News M&A

 

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