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RED ROBIN GOURMET BURGERS, INC. ANNOUNCES REFRANCHISING AGREEMENT TO SUPPORT "FIRST CHOICE PLAN"
RED ROBIN GOURMET BURGERS, INC. ANNOUNCES REFRANCHISING AGREEMENT TO SUPPORT "FIRST CHOICE
About this update from Red Robin Gourmet Burgers, Inc.
[{"type":"text","content":"Proceeds from Sale of 30 Units to Pay Down Debt and Execute \"First Choice Plan\" PrioritiesRed Robin to Receive $23.5 Million in CashENGLEWOOD, Colo., May 28, 2026 /PRNewswire/ -- Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) (\"Red Robin\" or the \"Company\"), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today announced the sale of 30 units to Evergreen Dining LLC, an experienced multi-unit restaurant operator. These units, which are based in Washington and Western Idaho, will continue operating under the same Red Robin brand guests love and trust.\nUnder the terms of the agreement, Red Robin will receive $23.5 million in cash. The Company intends to use the proceeds from this transaction primarily to pay down outstanding debt while continuing to execute on the priorities outlined in its \"First Choice Plan.\"Evergreen Dining's principals have run more than 100 restaurants across multiple national brands over nearly three decades. With more than 1,200 employees across their operating entities and a support center providing accounting, HR, IT, marketing, payroll, purchasing, and real estate services, the team brings organizational depth to support the 30 Red Robin locations from day one.Dave Pace, Red Robin's President and Chief Executive Officer said, \"Since launching our First Choice Plan last year, we have been focused on finding franchise partners who share our values and commitment to delighting guests. We are confident Evergreen Dining is the right partner to accelerate growth at these locations while also helping us strengthen our balance sheet, improve our capital structure, and enhance our financial flexibility as we evaluate potential refinancing partners. This exciting next chapter with Evergreen Dining would not have been possible without our talented team members who have worked tirelessly to execute on our First Choice Plan and help us strengthen our competitive position.\"Evergreen Dining said, \"Red Robin has been bringing Washingtonians and Idahoans together for moments of connection since 1969. We look forward to partnering with the talented teams in each location to solidify Red Robin's position as the First Choice in these communities, while still offering the same juicy burgers, bottomless fries and exceptional h...