Good Times Restaurants has agreed to purchase Bad Daddy's International.
Two years ago Good Times partnered with BDI as a licensee of Bad Daddy's and joint owner of Bad Daddy's Franchise Development LLC. Today the concept has 13 Bad Daddy's restaurants currently operating in 6 metropolitan markets and there are plans to open 4 or 5 more restaurants this year.
BDI owns all of the member interests in four restaurants in North Carolina, a portion of the member interests in three other restaurants in North Carolina, the license for the Bad Daddy's Burger Bar in the Charlotte airport, the intellectual property associated with the Bad Daddy's Burger Bar concept and 52 percent of the member interests in Bad Daddy's Franchise Development LLC, which has granted franchises for two Bad Daddy's restaurants in South Carolina and Tennessee and licensed rights to Good Times for its restaurants in Colorado. As a result of the purchase of BDI, Good Times will acquire all of these rights and interests.