Brinker International Sells Macaroni Grill

-- Foodservice Equipment & Supplies, 8/20/2008 11:50:00 AM

Brinker International Inc. signed an agreement with Mac Acquisition LLC, an affiliate of private equity firm Golden Gate Capital, to sell a majority interest in Roman’s Macaroni Grill. Brinker expects to receive $131.5 million for the sale, of which $6 million will be contributed to Mac Acquisition.

Following the sale, which is expected to close by the end of the calendar year pending approvals, Brinker will retain a 19.9-percent continuing ownership interest in the brand. In addition, Brinker agreed to provide corporate support services for a full year with a one-year extension option following the sale, and the company will retain representation on the board of directors of the new entity.