Diversified Restaurant Holdings Exercises Purchase Option On Existing Franchise Location

MarketWatch:

Diversified Restaurant Holdings, Inc., the owner/operator and franchisor of the unique, full-service, ultra-casual restaurant and bar, Bagger Dave’s Legendary Burgers & Fries(R) (“Bagger Dave’s”), and a leading franchisee for Buffalo Wild Wings(R) (“BWW”), announced today that it has exercised its purchase option on the building where it currently leases and operates a BWW restaurant in Brandon, Florida. DRH leased the building at 2055 Badlands Drive since December 24, 2003. The total purchase price of the building was $2.57 million and was financed by Bank of America, the U.S. Small Business Administration, seller financing, and the Company’s working capital.

Michael Ansley, Chairman, President, and Chief Executive Officer of DRH, commented “Our Buffalo Wild Wings location in Brandon is in an attractive area. We felt it was the right time to exercise our option on this property and secure the location, as this strategic move is anticipated to save the Company approximately $5,000 on a monthly basis.” Read more.

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