Englewood, Colo. — Red Robin Gourmet Burgers, Inc. has completed most of its refranchising transactions as previously announced on May 28 and June 15, 2026. Across three separate transactions, the company sold 108 company-owned units for approximately $89.4 million in gross proceeds. The sale of eight additional restaurants under one of the transactions is expected to close by the end of Red Robin’s 2026 fiscal year and generate approximately $6.6 million, bringing the total proceeds across all three transactions to approximately $96 million from the sale of 116 restaurants, consistent with the terms previously disclosed.
Under the terms of each agreement, each of the experienced multi-unit restaurant operators has begun operating restaurants in the following markets under the same Red Robin brand guests have trusted for almost six decades:
• Op Burgers, LLC is acquiring 69 restaurants based in Kentucky, Indiana, Maryland, Ohio, North Carolina, Pennsylvania, South Carolina and Virginia for $62.5 million. The acquisition of 61 restaurants for $55.9 million has closed, with the remaining eight restaurants expected to close by fiscal year end, pending the transfer of applicable liquor licenses, for additional proceeds of $6.6 million.
• Kuber Oregon, LLC and Kuber Washington, LLC acquired 17 restaurants based in Oregon and Washington for $10 million.
• Evergreen Dining LLC acquired 30 restaurants based in Washington and Western Idaho for $23.5 million.
“The completion of these refranchising agreements is a critical next step in strengthening our balance sheet as we position our business for sustainable, long term growth,” says Dave Pace, president and chief executive officer of Red Robin. “Each of these seasoned operators shares our hospitality-first mindset and brings the resources needed to accelerate growth across these markets, while continuing to deliver an exceptional guest experience. Importantly, these transactions will advance our efforts to refinance our existing debt and increase our financial flexibility. We are confident these operators will be strong partners who can help each location unlock its full potential for the benefit of our guests, team members and investors.”
Red Robin Gourmet Burgers, Inc. (www.redrobin.com) is a casual dining restaurant chain founded in 1969 that operates through its wholly owned subsidiary, Red Robin International, Inc., and under the trade name, Red Robin Gourmet Burgers and Brews. Red Robin has nearly 500 restaurants in the United States and Canada, including those operating under franchise agreements.
SOURCE: Red Robin Gourmet Burgers, Inc.