TGI Fridays and U.K. franchisee Hostmore plan a £177m merger to form publicly listed TGIF.
TGI Fridays and its U.K. franchisee, Hostmore, announced plans to merge in an all-share deal valued at £177m ($220m). The new company will be publicly traded on the London Stock Exchange as TGIF. TGI Fridays closed 36 underperforming US restaurants earlier this year. CEO Weldon Spangler, who led the company since October, will retain his role. The headquarters for U.S. and global operations will remain in Dallas, Texas.
April 16, 2024
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