J. Alexander’s Holdings, Inc. Enters into Definitive Agreement to Acquire Ninety Nine Restaurant and Pub Concept
J. Alexander's Holdings, Inc. (JAX)
US:NASDAQ Investor Relations:
investor.jalexandersholdings.com
Company Research
Source: Business Wire
NASHVILLE, Tenn.--(BUSINESS WIRE)-- J. Alexander’s Holdings, Inc. (NYSE: JAX) (“J. Alexander’s) and Fidelity National Financial, Inc. (“FNF”) today announced that J. Alexander’s, Fidelity Newport Holdings, LLC (“FNH”), and Fidelity National Financial Ventures, LLC (“FNFV”), a direct wholly-owned subsidiary of FNF, have entered into a definitive agreement under which J. Alexander’s will acquire 99 Restaurants, LLC (“99 Restaurants”), in an all-stock transaction valued at approximately $199 million, including the assumption of $20 million in net debt. The transaction was approved by the board of directors of J. Alexander’s and the board of managers at FNH and is expected to close in the fourth quarter of 2017. FNH is a majority-owned subsidiary of FNFV. Lonnie J. Stout II, President and Chief Executive Officer of J. Alexander’s noted, “Ninety Nine Restaurant & Pub is a well operated concept. Founded in 195
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