Restaurant holding company ARC Group has reached an agreement to purchase Tilted Kilt Pub and Eatery. 

Tilted Kilt Pub Interior 3

ARC Group will acquire all of the assets of Tilted Kilt from SDA Holdings LLC for $10, per a release announcing the deal. As part of the transaction, ARC will assume debt of approximately $1.8 million, future payment obligations of approximately $1.5 million, and will issue approximately 1.4 million shares of common stock. Tilted Kilt generated almost $14 million in revenue during 2017. The closing is expected to occur by the end of the year.

The announcement comes as no surprise; the first release that this deal was on the table came in July, 2018, with a statement that Tilted Kilt was on the brink of being acquired by ARC Group.

“The Tilted Kilt acquisition is in line with our strategy of targeting undervalued/underperforming restaurant chains with immediate cash flow potential, where we have the ability to leverage our franchising, marketing, operational, logistics and financial expertise across brands, while maintaining a strict focus on driving sales, reducing costs, and expanding margins,” said Seenu G. Kasturi, president and chief financial officer of ARC Group.

n August of this year, ARC acquired Fat Patty’s, a four-unit chain restaurant concept. ARC also owns the Dick’s Wings & Grill restaurant chain.

Tilted Kilt operates 34 restaurants systemwide.