Sporting Goods & Activities M&A » By The Online Investor Staff, updated Fri., Mar. 29, 9:06 AM
Recent mergers and acquisitions in the Sporting Goods & Activities M&A category.
Slide #26. Rick's Cabaret International — 11 Gentlemen's Clubs
Acquirer: |
Rick's Cabaret International (NASDAQ:RICK) |
Acquiree: |
11 Gentlemen's Clubs |
Details: |
Rick's Cabaret International, Inc. said its new subsidiary Jaguars Acquisitions, Inc. (JAI) and certain other subsidiaries will acquire nine operating locations and two other licensed locations under development in a single transaction. Ten of the clubs are in Texas and the eleventh is in Phoenix, AZ. The subsidiaries will pay a total of $26 million for the clubs and $10 million for associated real estate, with $4.35 million to be paid in cash upon closing of the transaction and the remainder through seller notes at 9.5 percent interest payable over 12 years. The seller notes may be prepaid after five years. |
RCI Hospitality Holdings is a holding company. Through its subsidiaries, Co. is engaged in a number of activities in the hospitality and other businesses. Co.'s subsidiaries operate various establishments that provide live adult entertainment and/or restaurant and bar operations, including one location that was temporarily closed. Co. also operates a business communications company serving the adult nightclubs industry. Co. operates several businesses into two reportable segments: Nightclubs, which Co.'s subsidiaries owns and/or operates adult nightclubs serving primarily businessmen and personnel; and Bombshells, which Co.'s subsidiaries owns and operates restaurants and sports bars.
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March 29, 2024 9:06 AM Eastern
Strong Buy (4.00 out of 4)
81st percentile
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