Franchise Group Completes Sale Of Badcock Distribution Centers

by Shivani Kumaresan, Benzinga Staff Writer

June 21, 2022 2:12 PM | 1 min read | Make a Comment

Franchise Group Inc FRG has completed the sale-leaseback of three W.S. Badcock Corporation distribution centers for about $150 million to affiliates of Oak Street Real Estate Capital.
Franchise expects to complete the sale-leaseback of the corporate headquarters by Q2 end.
CEO Brian Kahn said, "We are pleased to close the sale of the Badcock distribution centers and retire the balance of our acquisition term loan with the cash proceeds."
Franchise held $149.6 million in cash and equivalents as of March 26, 2022.
Price Action: FRG shares are trading higher by 1.11% at $35.51 on the last check Tuesday.

Posted In: M&A News Small Cap Briefs

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