LUB - Luby's to sell Fuddruckers franchise business to Nicholas Perkins affiliate

Luby's (LUB) to sell the Fuddruckers franchise business operations to a newly formed affiliate of Nicholas Perkins. The purchase by the Perkins affiliate, Black Titan Franchise Systems, encompasses the master ownership of the Fuddruckers brand worldwide.The Fuddruckers brand currently has 92 locations operating in the United States, including 13 locations operated by affiliates of Mr. Perkins.The sale could provide with ~$18.5M of value, no assurance for such consideration."We're excited to be purchasing Fuddruckers and look forward to working with Fuddruckers' many dedicated, highly capable franchisees to further build this brand. As a Fuddruckers franchisee, I have a vested interest in ensuring that all Fuddruckers franchisees have the resources, infrastructure, and operational and marketing support they need to maximize their return on investment. This strategic alignment, when combined with the fact that we sell the 'World's Greatest Hamburgers'™, will ensure the long-term success of the brand and our franchisees." said Mr. Perkins, CEO of Black Titan Franchise Systems. Shares trades

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Luby's to sell Fuddruckers franchise business to Nicholas Perkins affiliate