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4x4 Capital buys Bob Evans

Bob Evans Restaurants has a new owner after 4×4 Capital acquired the family dining chain from Golden Gate Capital. The 78-year-old restaurant chain has more than 400 locations spanning 18 states.

CEO Mickey Mills and her team will continue to lead the company, per a release announcing the deal. Gustavo Assumpção, 4×4 co-founder and partner, will serve as executive board chair.

Golden Gate Capital acquired Bob Evans in 2017 for $565 million when it was spun off from Bob Evans Farms. At the time, Bob Evans had 522 units.