Colorado-based restaurant chain Red Robin Gourmet Burgers has completed the sale of 108 of its restaurants for $89.4 million across three separate deals.
Buyers Op Burgers, Kuber Oregon and Evergreen Dining have followed Red Robin’s sale of six restaurants already in the current financial year. The restaurant company has now signed deals to sell 116 restaurants in total, for around $96 million.
“Our talented team has made incredible progress in the execution of our ‘First Choice Plan’ over the past year, and 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,” said Dave Pace, president and CEO 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.”
The proceeds from the transactions will be used to pay down Red Robin’s debt while also supporting its ongoing refinancing. The company recorded a $23.3 million loss in fiscal 2025, a year in which it announced its turnaround strategy.
“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,” Pace added.
