Dave & Buster's Completes Acquisition of Jillian's Assets.DALLAS -- Dave & Buster's Inc. (NYSE NYSE See: New York Stock Exchange :DAB), announced that late today it completed the acquisition of the majority of the largest Jillian's restaurant/entertainment complexes and the trade name from Jillian's Entertainment Holdings, Inc. for approximately $47 million. These properties include: Arundel Mills Arundel Mills is a mall located in Hanover, Maryland (south of Baltimore, near BWI Airport) and is now owned by Simon Property Group. The mall is located at the intersection of Maryland Route 100 and the Baltimore-Washington Parkway (Maryland Route 295) in northwestern Anne (Baltimore, Md.) Concord Mills Concord Mills is a 1.32 million square foot shopping mall located in Concord, North Carolina, a suburb of Charlotte. The mall is in Cabarrus County, just a few hundred feet from the Mecklenburg County border, and about (Concord, N.C.) Farmingdale (Long Island, N.Y.) Franklin Mills Franklin Mills is an enclosed shopping mall located in northeast Philadelphia, Pennsylvania, bordering Bensalem in Bucks County and 15 miles outside Center City.[1] (Philadelphia, Pa.) Houston (Houston, Texas) Mall of America Mall of America (also MOA, MoA, or the Megamall) is a shopping mall located in the Twin Cities suburb of Bloomington, Minnesota. It is just southeast of the junction of Interstate 494 and Minnesota State Highway 77, and is across the interstate from the (Bloomington, Minn.) Opry Mills (Nashville, Tenn.) Phoenix (Scottsdale, Ariz.) Westbury (Long Island, N.Y.) This transaction is anticipated to be immediately accretive to earnings. Later this month, the Company will host a conference call to discuss the acquisition. Celebrating 22 years of operations, Dave & Buster's was founded in 1982 and is one of the country's leading upscale, restaurant/entertainment concepts with 34 locations throughout the United States and Canada. For more information on the Company, including the latest investor presentation, please visit the Company's Web site, www.daveandbusters.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statements Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 Certain information contained in this press release includes forward-looking statements. Forward-looking statements include statements regarding our expectations, beliefs, intentions, plans, projections, objectives, goals, strategies, future events or performance and underlying assumptions and other statements which are other than statements of historical facts. These statements may be identified, without limitations, by the use of forward-looking terminology such as "may," "will," "anticipates," "expects," "projects," "believes," "intends," "should," or comparable terms or the negative thereof. All forward-looking statements included in this press release are based on information available to us on the date hereof. Such statements speak only as of the date hereof. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to, the following: our ability to open new high-volume restaurant/entertainment complexes; our ability to raise and access sufficient capital in the future; changes in consumer preferences, general economic conditions or consumer discretionary spending; the outbreak or continuation of war or other hostilities involving the United States; potential fluctuation in our quarterly operating result due to seasonality and other factors; the continued service of key management personnel; our ability to attract, motivate and retain qualified personnel; the impact of federal, state or local government regulations relating to our personnel or the sale of food or alcoholic beverages; the impact of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; the effect of competition in our industry; additional costs associated with compliance with the Sarbanes-Oxley Act See SOX. and related regulations and requirements; and other risk factors described from time to time in our reports filed with the SEC. |
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