Financing ·
Cracker Barrel Old Country Store, Inc. completed a sale-leaseback transaction for 26 properties, generating…
CBRLCracker Barrel Old Country Store, Inc
Cracker Barrel Old Country Store, Inc. completed a sale-leaseback transaction for 26 properties, generating approximately $77 million in net proceeds to be used for debt reduction. The company also divested its Maple Street Biscuit Company (MSBC) business by selling assets from 35 locations to Biscuit Belly, LLC and closing the remaining 16 locations, expecting to record non-cash charges of $37 million to $39 million and cash exit costs of $6 million to $8 million. Cracker Barrel operates in the restaurant and retail industry, providing homestyle food and retail merchandise.