AMERICAN FAMILY RESTAURANTS ACQUIRES ELEVEN RESTAURANTS.NORCROSS, Ga.--(BUSINESS WIRE)--Sept. 11, 1995--American Family Restaurants, Inc. (AMEX AMEX See: American Stock Exchange : FRI), the nation's largest Denny's franchisee, announced today that it has acquired eleven Mr. Fable's restaurants in Western Michigan
Western Michigan, also known as West Michigan, is a region of the U.S. state of Michigan. from Fables-Innkeepers Management Inc. of Grand Rapids, Michigan “Grand Rapids” redirects here. For other uses, see Grand Rapids (disambiguation). Grand Rapids is a city in the U.S. state of Michigan. As of the 2000 census, the city population was 197,800. for approximately $2.7 million and the assumption of certain current liabilities Current Liabilities Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. . Last month, American Family American Family is a photographic artwork exhibition by Renée Cox. See also
AFR Australian Financial Review AFR Afrikaans (South African language) AFR Air France (ICAO code) AFR Alternate Frame Rendering AFR Applicable Federal Rate ) and Denwest Restaurant Corp. signed an Agreement and Plan of Merger providing for the combination of the companies, the nation's two largest Denny's franchisees. After the merger, AFR will change its name to DenAmerica Corp. and relocate its executive offices to Denwest's Scottsdale, Arizona Scottsdale (O'odham Vaṣai S-vaṣonĭ) is a city in Maricopa County, Arizona, United States, adjacent to Phoenix. Scottsdale has become internationally recognized as a premier and posh tourist destination, while maintaining its own identity and culture as " headquarters. Jeffrey Miller, Chief Executive Officer of AFR, commented on the acquisition, "The Mr. Fable's restaurants provide us with an excellent presence in the important Western Michigan market. There will be efficiencies in advertising and operations, and the acquisition reflects our long-term strategy of broadening our national presence while creating a more efficient overall operation. This acquisition, when combined with the Kettle Restaurants acquisition announced last week by Denwest, increases our overall base by almost 17%." Including today's purchase, DenAmerica will initially operate 248 restaurants in 28 states in the West, Midwest and Southeast, including 156 Denny's restaurants or about ten percent of all domestic Denny's restaurants. American Family Restaurants, Inc., headquartered in Atlanta, Georgia, operates 137 family style restaurants, 85 of which are Denny's, in 14 states in the Midwest and Southeast. AFR has grown since its founding in 1986 primarily through the purchase of existing Denny's and the acquisition and conversion of other restaurants into the Denny's format. CONTACT: Edward C. Williams Chief Financial Officer 404/729-1300 or Joseph N. Jaffoni David C. Collins Jaffoni & Collins Incorporated 212/505-3015 |
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