Luby’s has completed the sale and franchise of some of its own Fuddruckers restaurants to subsidiaries of Black Titan Holdings, a subsidiary of food service entrepreneur Nicholas M Perkins.
Specific terms of the contract were not disclosed.
With the acquisition of the company’s assets at its eight locations, Black Titan has grown into one of the largest Fuddrucker franchisees in the United States.
The restaurants are located in Glendale, Phoenix, and Mesa in Arizona, Copperfield, Tidwell, Houston, Kingwood, and Stafford in Texas, and Woodbridge, Virginia.
Black Titan Holdings agreed to acquire Fuddrucker’s facilities and assets from Luby’s in December 2020.
Luby’s now anticipates closing transactions for restaurants in Tempe, Arizona, Kansas City in Kansas, St. Louis, Missouri, and Houston and Tomball, Texas.
On February 25, the company also announced that HPCP Investments has completed the sale and franchise of its former Fuddruckers restaurants on Town and Country Way in Houston, Texas.
Each of these deals had received approval from a special committee of the board of directors.
The transactions are part of the company’s previously announced liquidation and liquidation plan, which was approved by the board of directors and shareholders last year.
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Luby’s operates two restaurant brands, Luby’s Cafeterias and Fuddruckers. The company is also the franchisor of the Hamburg-based restaurant brand Fuddruckers.
Through its Culinary Contract Services division, Luby’s provides food service management for locations such as healthcare, restaurants and sports stadiums.
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