RISE - Menu Monitor

Champps Entertainment Inc.’s letter of intent to be purchased for $75 million by Kinderhook Industries LLC has expired.
Champps did not say why the deal fell through but noted that it plans to continue to pursue a sale of the restaurant and its
assets. The company said that it has received “indications of interest” from potential buyers. Champps operates and
franchises 61 restaurants nationwide. (NRN Daily NewsFax 3/02/07; Company Release 3/01/07)
Champps Entertainment Inc. reported for the third quarter ended April 1 a net loss of $0.6 million from a loss of $1.9 million for
the same period last year. Revenues decreased 4.8% to $49.2 million from $51.7 million. Same-store sales fell 4.3%.
(Company Release 5/8/07)
Champps Entertainment Inc.’s board of directors ended the company’s sale process. In January, Champps signed a definitive
agreement to sell itself for $75 million, plus debt. The company ended the sale process after it had several prospective buyers,
but no definitive proposals that were acceptable. Instead, Champps will seek ways to increase shareholder value. (NRN Daily
NewsFax 5/21/07)
Champps Entertainment Inc. donated $50,000 to The Boys & Girls Club of America. The money was raised during the
company’s March Mania campaign. (Nation’s Restaurant News 5/21/07 p30)
Champps Entertainment Inc. is being acquired by F&H Acquisition Corp. for $74.8 million. Champps’ operates 61-units located
in 21 states and 87 restaurants under the Fox & Hound and Bailey’s Pub & Grille brands. (Denver Business Journal Online
7/5/07; NRN Daily NewsFax 7/6/07)
Champps Entertainment reported for the fourth quarter ended July 1 a net loss of $0.7 million, compared to a loss of $2 million
for the same period last year. Revenues declined 4.7% to $47.1 million from $49.4 million. Same-store sales fell 4%. For the
year, the company reported a net loss of $7.9 million, compared to net income of $1.6 million the previous year. Revenues
decreased 4.3% to $198 million from $207 million. (Company Release 9/4/07)
Champps Entertainment Inc. agreed to provide F&H Acquisition Corp. and its equity sponsors additional time to complete the
financing of F&H’s proposed acquisition of Champps. Stockholders originally were to meet on September 28, and, assuming
they approve the transaction, were planning to complete the deal on October 1. Because F&H asked for additional time, the
closing was postponed until October 22. (Company Release 9/24/07)
The Champps Entertainment Inc. sale was completed on October 22. Last Call Acquisition Corp., a wholly owned subsidiary of
F&H Acquisition Corp., completed the merger, which made Champps a wholly owned subsidiary of F&H. Former Champps
shareholders are entitled to receive $5.60 in cash for each of their shares. (Bizjournals.com 10/22/07)
©Technomic Information Services 2007, CIS profiles may not be copied or distributed in any print or electronic format without a license or written consent.
Technomic believes that its sources of information are reliable, but does not assume any responsibility or liability for the accuracy of the information
published.
139