Misplaced Pages

#243756

25-533: Bob Evans Restaurants is an American chain of restaurants owned by Golden Gate Capital based in New Albany, Ohio . After its founding in 1948 by Bob Evans (1918–2007), the restaurant chain evolved into a company with the corporate brand name "Bob Evans Farms, Inc." (BEF), and eventually established a separate food division to handle the sale of its products in other markets. The company made several major acquisitions, including Owens Country Sausage in 1987, and

50-500: A Mexican -themed restaurant called Cantina del Rio in the mid-1990s, a move that founder Bob Evans called "a disaster" in 2003. The Evans family controlled daily operations of the company until 2000, when Dan Evans retired as CEO. After this, Stewart K. Owens (a former officer of the Owens Country Sausage company and later president of BOBE) assumed control of Bob Evans Farms Inc. as CEO. In 2001, he became chairman of

75-743: A country-living theme, and most locations sell baked goods, snacks, and small gift items. The company formerly offered pork products and refrigerated side dishes in retail grocery and food service markets. The distribution of these products, sold under the Bob Evans and Owens Country Sausage brand names , was independent of the restaurant division. Bob Evans Restaurants was founded in 1948 by Bob Evans , when he began processing and packaging sausage for his small diner located in Gallipolis, Ohio . Early operations were based at his farm in Rio Grande . As

100-464: Is a value-added potato processor, including a 900-acre (360 ha) potato farm, serving the retail and food service markets. They also operate a cheese-processing business. Both the sale of the restaurant division to Golden Gate Capital and the purchase of Pineland Farms Potato Company closed on March 1, 2017. On September 19, 2017, Bob Evans Farms announced that it would be acquired by Post Holdings . Post Holdings also announced that upon completion of

125-490: Is a wholly owned subsidiary of LeDuff America and was founded as Mimi's Cafe by American airman Arthur Simms, who was stationed in France during World War II. He named the restaurant after a French woman he met in a party after the liberation of the country. In July 2019, the company re-branded as Mimi's Bistro + Bakery in order to "reflect the company’s desire to make Mimi’s a destination restaurant, where diners can sit down for

150-792: The commissary at MGM Studios in the 1950s), his son Thomas Simms, Brian Taylor, and Paul Kurz opened the first Mimi's Cafe in December 1978 in Anaheim , California . Bob Evans Farms, Inc. purchased the Mimi's Cafe restaurant chain (operating under SWH Corporation) in July 2004 for USD$ 182 million. Mimi's Cafe was sold to the U.S. branch of Groupe Le Duff , which also owns the La Madeleine restaurants, in February 2013. Mimi's Bistro + Bakery

175-524: The Bob Evans family farm in southern Ohio in a way that the company called a "contemporary and relevant twist". CEO Steven Davis resigned in December 2014. In December 2015, the chain announced its intention to sell 145 properties to Mesirow Financial Holdings Inc. for $ 165–175 million. On January 24, 2017, Bob Evans Farms announced the sale of its restaurants business unit to the private equity company Golden Gate Capital (owners of Red Lobster and California Pizza Kitchen ) for US$ 565 million plus

200-777: The District of Columbia. After encountering a capacity problem fulfilling large orders, Bob Evans contracted with his cousin Tim Evans of the Evans Packing Company to package Bob Evans Sausage products. Another relative, Dan Evans, served as CEO until his retirement in 2000. The company acquired Texas -based Owens Country Sausage in 1987. Owing to trademark issues, the company branded its otherwise identical restaurants in Texas as Owens Restaurants. By January 2006, all Owens restaurants had been closed. The company operated

225-584: The U.S. at the time. They featured casual dining and American food with a French emphasis and decorative elements. Bob Evans Farms sold Mimi's Cafe to the U.S. branch of Groupe Le Duff in 2013. In an effort to update the company's image, Bob Evans debuted a new prototype design at their restaurant location in Xenia, Ohio , on August 17, 2009. The new look included flat-screen televisions, free Wi-Fi , curbside carryout services, and redesigned uniforms for staff. Its architecture and interior design drew inspiration from

250-799: The acquisition of Neustar , Inc., previously NSR, a publicly traded company. In June 2018, the company announced that it had established a new operating company, PSEB Group. PSEB is composed of two Golden Gate portfolio companies: Eddie Bauer and Pacific Sunwear of California . In July, Golden Gate Capital announced that it had acquired The Learning Experience, one of the nation's largest and fastest-growing academies of early education and child care providers. In November, Golden Gate Capital announced that it had acquired Vector Solutions of Tampa from Providence Equity Partners , for an undisclosed sum. In September 2019, Golden Gate Capital acquired autism and childhood behavioral health services provider, Invo Holding, LLC, for an undisclosed amount. In November,

275-613: The acquisition, they would combine their existing Michael Foods refrigerated retail business with that of Bob Evans Farms. This unit would initially operate under the Bob Evans Farms name (before eventually being changed to Post Refrigerated Retail) and would be led by the then-current Bob Evans Farms president and CEO, Mike Townsley. Bob Evans Farms foodservice business would be moved to Michael Foods, and led by division president Jim Dwyer. The sale of Bob Evans Farms to Post Holdings closed on January 12, 2018, when Bob Evans Farms stock

SECTION 10

#1732798611244

300-523: The assumption of up to US$ 50 million in liabilities. In addition to the restaurants, Golden Gate Capital also took ownership of the Bob Evans Farm in Bidwell, Ohio , near Rio Grande . Once the sale was finalized, Bob Evans Farms CEO Saed Mohseni moved to Golden Gate Capital to serve as president of the Bob Evans restaurant division. BEF Foods President Mike Townsley became president and CEO of

325-659: The board . Company profits faltered under Owens' tenure. In August 2005, after corporate profits had dropped in eight of the previous nine quarters, Owens announced his resignation. After operating for several months under interim CEO Larry Corbin, the company hired Steven Davis , former president of Long John Silver's , as CEO in May 2006. In July 2004, Bob Evans Farms purchased the California-based Mimi's Cafe restaurant chain (operating under SWH Corporation) for $ 182 million. Mimi's Cafe had 144 locations throughout

350-653: The company announced the purchase of the J.Jill brand business from Talbots . In April 2011, the Bahrain -based private equity firm Arcapita bought Jill Acquisitions from Golden Gate. In 2011, it acquired California Pizza Kitchen . The company declared bankruptcy in July 2020, seeking to reduce its debt load and close locations, during the midst of the COVID-19 pandemic. On October 9, 2012, Wolverine World Wide , Golden Gate Capital and Blum Capital acquired Collective Brands. On July 28, 2014, Golden Gate completed

375-579: The company backed Philip P. Gass and Kostas Cheliotis with $ 750 million for a reinsurance company. That month, Golden Gate Capital, with Arcapita Bank, also sold its J.Jill retail holdings to TowerBrook . In September 2016, the company acquired lifestyle clothing brand PacSun , after the retailer completed Chapter 11 bankruptcy. In January 2017, the company purchased the Bob Evans Restaurants division from Bob Evans Farms, for $ 565 million. On August 8, 2017, Golden Gate Capital finalized

400-581: The company operates 44 locations in Arizona , California , Colorado , Florida , Missouri , Nevada , New Mexico , North Carolina , Ohio , Tennessee , Texas , and Utah . Originally headquartered in Tustin, California , its headquarters moved to Dallas, Texas in 2014 after 36 years in California. It serves French and American food, with French rustic decor and themes. Arthur J. Simms (who headed

425-515: The divorcing couple that owned Neways International, each of whom were convicted, the previous year, on "six counts of income tax evasion and a conspiracy to defraud the IRS", and sentenced to more than two years in prison. Ramy El-Batrawi died of unknown causes on April 23, 2024. On May 15, 2007, Limited Brands announced its intent to sell a 67% stake in Express to Golden Gate Capital Partners. When

450-670: The firm had approximately 54 investment professionals. Following the bursting of the Dot-com bubble , the firm had shown a pattern of investments in technology companies that may have been distressed by the Great Recession in the United States at that time. In 2006, it bought Neways International for $ 500 Million, acquiring the company at an auction held by the divorce court. A prior $ 700 million transaction, led by Ramy El-Batrawi, had been abandoned, due to feuding between

475-523: The firm sold Hillstone Environmental Partners, which it had co-founded in 2015 as a de novo investment, in a partnership with Hillstone CEO and co-founder Jay Parkinson. NGL Energy Partners acquired the Central Delaware Basin water pipeline and disposal infrastructure company for approximately US$ 600 million. Mimi%27s Cafe Mimi's Bistro + Bakery (formerly Mimi's Café) is an American restaurant chain . As of April 2024,

500-496: The new Bob Evans Farms, which remains a public company focusing on grocery products such as breakfast sausage and refrigerated side dishes. Net proceeds from the sale to Bob Evans Farms was expected to be between $ 475 million and $ 485 million. On the same day, Bob Evans Farms entered into an agreement to acquire the Pineland Farms Potato Co. of Mars Hill, Maine, for US$ 115 million. Pineland Farms

525-538: The purchase of Red Lobster from Darden Restaurants , for $ 2.1 billion. The firm has been criticized for its handling of Red Lobster; Golden Gate was accused of " asset stripping " by selling off Red Lobster's real estate, which Golden Gate in turn kept as profit rather than a reinvestment into the restaurant chain. Red Lobster filed for Chapter 11 bankruptcy in May 2024. In November 2014, Golden Gate Capital agreed to buy Angus Chemical Co. and its Sterlington plant from Dow Chemical , for $ 1.215 billion. In May 2015,

SECTION 20

#1732798611244

550-986: The reputation of his sausage grew, so did the number of guests who visited his farm to buy it in bulk. Friends and family partnered together to establish Bob Evans Farms, Inc., in 1953. The increased traffic led him to build the first company restaurant at the farm in 1962 that was named "The Sausage Shop". The construction of additional Bob Evans restaurants began some years later. By the mid-1970s there were 20 locations—all of them still in Ohio—including sites in Cleveland, Columbus, Cincinnati, Dayton, and smaller markets. By 1980 there were 59 restaurants in seven states. and by 1992 Bob Evans owned and operated 261 restaurants in 16 states: Ohio, Indiana, Illinois, Kentucky, Florida, Georgia, Tennessee, Pennsylvania, Michigan, West Virginia, South Carolina, Missouri, Maryland, New York, Virginia and Texas, with food products retailed in 26 states and

575-499: The sale was finalized, in July 2007, Golden Gate's stake in the company was 75% for approximately $ 550 Million, instead of the announced 67%. Through its unit, Mac Acquisition LLC, in 2008, the firm acquired a majority stake in the Romano's Macaroni Grill restaurant chain for $ 131 Million. In October 2017, Mac Acquisition LLC filed for Chapter 11 bankruptcy protection, from which it was able to emerge in February 2018. In June 2009,

600-741: Was delisted from the NASDAQ Global Select Market , and the company ceased to exist as an independent organization. Golden Gate Capital The firm was founded in 2000 by former investment professionals from private equity firm Bain Capital and its affiliate, Bain & Company , led by former Bain Capital partner David Dominik. Golden Gate's investment fund is structured as an evergreen fund with no finite life, meaning Golden Gate does not have to sell all investments within five to 10 years in order to raise another fund and can instead fund-raise as deals are made. As of 2017,

625-707: Was split in January 2017 with the sale of its restaurant division to an affiliate of Golden Gate Capital. BEF Foods remained independently owned until September 2017 when it was sold to Post Holdings . As of April 2024, the company operates 436 locations in Delaware , Florida , Illinois , Indiana , Kansas , Kentucky , Maryland , Michigan , Missouri , New Jersey , New York , North Carolina , Ohio , Pennsylvania , South Carolina , Tennessee , Virginia , and West Virginia . The locations are all corporate owned, and none of them are franchised . The restaurants feature

#243756