Los Angeles, April 10 - The Restaurant Company, operator and franchiser of the Perkins Restaurant & Bakery chain, said on Monday it is pursuing an acquisition of Marie Callender's Restaurant & Bakery, a chain of casual dining restaurants best known for freshly baked pies.
The transaction, which is being negotiated, is expected to involve a stock-for-stock exchange. The Restaurant Co. plans to repay Marie Callender's debt with a new $100 million facility secured by nearly all the assets of the combined businesses.
Both companies are controlled by investment funds managed by New York-based private equity firm Castle Harlan Inc.