Olshan represented Ruth’s Hospitality Group, Inc. (NASDAQ: RUTH) in its acquisition of six restaurants in Hawaii from longtime franchise partner, Desert Island Restaurants, for approximately $35 million in cash.
The acquisition includes six restaurants, including a new location opened in early November on the island of Kauai, as well as area development rights for the balance of the state. The acquisition has been funded with debt through the Company’s senior credit facility.
Ruth’s Hospitality Group, Inc. operates a chain of upscale steak houses. The company, led by Michael P O’Donnell, Cheryl J Henry and Susie Gorsline, in 2016 recorded $385.9 Million Revenues.
The Olshan team who represented Ruth’s include Steve Wolosky (Picture), Jeffrey Spindler and Honghui Yu.
Law Firms: Olshan Frome Wolosky LLP;
Clients: Ruth’s Hospitality Group, Inc.;