DALLAS, May 22, 2017 /PRNewswire/ -- Chalak Mitra
Group of Companies, a Dallas-based
investment group, announces today the sale of several of its
non-core brands. The brands included in the transactions are
Elephant Bar Restaurant, Baker Bros American Deli, and Ruby
Tequila's Mexican Kitchen. The transactions involved third parties,
and terms of the deals were not disclosed.
Baker Bros American Deli, a fast-casual deli chain that serves
salads, oven-baked sandwiches, and stuffed baked potatoes, sold in
February 2017 to FGR Food
Corporation, based out of Dallas,
Texas.
Elephant Bar Restaurant, a globally inspired scratch kitchen
founded in 1980, was sold via a stock purchase agreement on
May 19,2017 to an affiliate of SBR,
LLC. The transition will occur over the next several weeks and will
not affect day-to-day operations of the restaurants. SBR, LLC,
based out of Connecticut, is an
investment company, specializing in private middle market
activities.
The sale of Ruby Tequila's Mexican Kitchen is being finalized
and should be complete by the end of May. It was sold to an
affiliate of Fired Up Holding Company, Inc., based out of
Lubbock, Texas. Ruby Tequila's
Mexican Kitchen is an authentic Mex-Tex restaurant with locations
in Lubbock and Amarillo.
The sale of these brands will continue to help shape the group's
high-level strategic direction. "We were proud to be affiliated
with these brands throughout our ownership and wish the new
ownership groups the best of luck. As a result of these
transactions, we will allocate our resources to expand and
strengthen our other businesses," said Al
Bhakta, Managing Director.
About Chalak Mitra Group of Companies
Chalak Mitra Group of Companies is an investment group
headquartered in Dallas, Texas.
They have deployed capital and management services in companies
that operate restaurants, retail, real estate, hospitality,
manufacturing, and sports. Their investment philosophy is to
leverage their core expertise to help build companies and create
value for all stakeholders.
CONTACT: Chalak Mitra Group of Companies
info@chalakmitragroup.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/chalak-mitra-group-of-companies-announces-sale-of-elephant-bar-restaurant-and-other-brands-300461728.html
SOURCE Chalak Mitra Group of Companies