Atlanta-based NRD Capital to acquire the casual dining chain.
In a deal valued at approximately $335 million, NRD Capital has agreed to acquire casual dining chain Ruby Tuesday. The transaction is expected to close by the first quarter of 2018 and is subject to customary closing conditions.
NRD Capital is an Atlanta-based private equity firm that specializes in franchised and multilocation business investments, including a variety in the restaurant industry.
“Our focus at NRD is investing in quality restaurant companies and providing strategic and operational expertise to create sustainable value. With a well-established brand, differentiated from other casual dining restaurants by its Garden Bar, we see significant opportunities to drive value for Ruby Tuesday,” said Aziz Hashim, founder of NRD. “We are excited to be part of the company’s next chapter. As a private company, we will be able to take a long-term view on Ruby Tuesday, allowing us to make investments in people, product, and customer experience, without public company constraints. This approach will enable us to reward everyone involved in our success, in addition to our investors.”